Waycross Partners LLC Cuts Holdings in Target Corporation $TGT

Waycross Partners LLC reduced its holdings in Target Corporation (NYSE:TGT) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,912 shares of the retailer’s stock after selling 18,645 shares during the quarter. Target comprises 1.2% of Waycross Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Waycross Partners LLC’s holdings in Target were worth $13,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. lifted its stake in shares of Target by 32.3% in the second quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock valued at $41,000 after purchasing an additional 98 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in Target by 0.6% in the second quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer’s stock valued at $1,738,000 after buying an additional 100 shares in the last quarter. Binnacle Investments Inc increased its holdings in Target by 11.4% in the second quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer’s stock valued at $100,000 after buying an additional 104 shares in the last quarter. IFG Advisory LLC lifted its position in shares of Target by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 7,387 shares of the retailer’s stock valued at $729,000 after acquiring an additional 105 shares during the period. Finally, Empirical Finance LLC boosted its stake in shares of Target by 0.7% during the 2nd quarter. Empirical Finance LLC now owns 16,271 shares of the retailer’s stock worth $1,605,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the subject of several research analyst reports. Roth Mkm set a $88.00 price objective on Target in a research note on Thursday, November 20th. Wolfe Research upgraded Target from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 27th. Sanford C. Bernstein cut their price target on Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research note on Thursday, November 20th. Truist Financial boosted their price objective on shares of Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. Finally, TD Cowen dropped their target price on shares of Target from $105.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, November 20th. Ten research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $104.45.

Target Stock Up 0.6%

TGT stock opened at $116.45 on Wednesday. The company has a 50 day moving average price of $104.91 and a two-hundred day moving average price of $97.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The stock has a market capitalization of $52.73 billion, a P/E ratio of 14.13, a PEG ratio of 11.83 and a beta of 1.14. Target Corporation has a one year low of $83.44 and a one year high of $131.70.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. The business had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. Target had a return on equity of 22.74% and a net margin of 3.58%.The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 earnings per share. As a group, sell-side analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s dividend payout ratio (DPR) is presently 55.34%.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.