California State Teachers Retirement System Cuts Holdings in Target Co. (NYSE:TGT)

California State Teachers Retirement System decreased its position in shares of Target Co. (NYSE:TGT - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 750,760 shares of the retailer's stock after selling 18,641 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Target worth $101,488,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new stake in shares of Target in the 4th quarter worth approximately $29,000. Bernard Wealth Management Corp. purchased a new position in Target in the 4th quarter worth $30,000. MCF Advisors LLC lifted its stake in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock worth $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock valued at $35,000 after buying an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC grew its stake in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

Shares of NYSE:TGT traded up $1.32 during midday trading on Friday, reaching $97.29. 5,291,595 shares of the company were exchanged, compared to its average volume of 5,743,214. The business's fifty day moving average is $103.11 and its two-hundred day moving average is $126.27. Target Co. has a one year low of $87.35 and a one year high of $167.40. The stock has a market cap of $44.32 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analysts' expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Wednesday, May 14th. Target's dividend payout ratio is 50.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TGT shares. Mizuho assumed coverage on Target in a report on Friday, April 11th. They set a "neutral" rating and a $92.00 target price for the company. Guggenheim increased their price objective on Target from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Truist Financial lowered their price target on shares of Target from $124.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Gordon Haskett lowered shares of Target from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Finally, Roth Mkm restated a "neutral" rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $132.37.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.