Everence Capital Management Inc. Cuts Stake in Target Co. (NYSE:TGT)

Everence Capital Management Inc. lessened its stake in shares of Target Co. (NYSE:TGT) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,680 shares of the retailer’s stock after selling 2,180 shares during the period. Everence Capital Management Inc.’s holdings in Target were worth $1,038,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TGT. State Street Corp raised its holdings in shares of Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. International Assets Investment Management LLC raised its stake in shares of Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after buying an additional 1,981,458 shares during the period. Two Sigma Advisers LP lifted its position in shares of Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after buying an additional 1,502,200 shares during the last quarter. FMR LLC grew its stake in shares of Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after acquiring an additional 768,479 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $135.79 on Friday. The company’s fifty day moving average is $138.89 and its 200 day moving average is $145.81. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The stock has a market cap of $62.22 billion, a PE ratio of 14.40, a PEG ratio of 2.23 and a beta of 1.17.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period last year, the firm posted $2.10 EPS. The company’s revenue was up .9% on a year-over-year basis. Research analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TGT shares. Guggenheim cut their target price on shares of Target from $180.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Melius Research assumed coverage on shares of Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Stifel Nicolaus boosted their target price on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Evercore ISI reduced their price target on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research report on Thursday, November 21st. Finally, Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $160.57.

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.