Choate Investment Advisors Has $708,000 Position in Target Co. (NYSE:TGT)

Choate Investment Advisors raised its stake in shares of Target Co. (NYSE:TGT) by 52.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,240 shares of the retailer’s stock after purchasing an additional 1,814 shares during the period. Choate Investment Advisors’ holdings in Target were worth $708,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Target in the 3rd quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of Target in the fourth quarter valued at about $29,000. MCF Advisors LLC increased its stake in shares of 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 period. Raleigh Capital Management Inc. lifted its position in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Target during the 3rd quarter valued at approximately $36,000. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TGT. KGI Securities set a $132.00 price target on Target in a research report on Wednesday, March 5th. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Truist Financial dropped their price objective on shares of Target from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Finally, Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Target currently has a consensus rating of “Hold” and an average price target of $145.87.

Target Stock Performance

TGT stock opened at $104.71 on Monday. The company has a 50 day moving average price of $129.35 and a 200 day moving average price of $139.63. Target Co. has a fifty-two week low of $103.46 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock has a market capitalization of $47.70 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 50.56%.

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.