Target Co. (NYSE:TGT) Stake Increased by Banco de Sabadell S.A

Banco de Sabadell S.A lifted its holdings in Target Co. (NYSE:TGT) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,185 shares of the retailer’s stock after buying an additional 1,680 shares during the period. Target comprises approximately 1.7% of Banco de Sabadell S.A’s portfolio, making the stock its 23rd biggest position. Banco de Sabadell S.A’s holdings in Target were worth $2,189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in Target during the fourth quarter valued at approximately $21,346,000. Umpqua Bank grew its holdings in shares of Target by 23.0% during the 4th quarter. Umpqua Bank now owns 2,920 shares of the retailer’s stock valued at $398,000 after acquiring an additional 546 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of Target by 45.5% in the fourth quarter. Mizuho Securities USA LLC now owns 43,662 shares of the retailer’s stock worth $5,902,000 after acquiring an additional 13,662 shares during the last quarter. Summit Global Investments boosted its position in Target by 513.5% during the fourth quarter. Summit Global Investments now owns 12,356 shares of the retailer’s stock valued at $1,670,000 after purchasing an additional 10,342 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Target during the fourth quarter valued at $484,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of Target stock opened at $104.29 on Friday. The firm has a market cap of $47.51 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The firm’s 50-day simple moving average is $125.89 and its 200-day simple moving average is $138.03. Target Co. has a twelve month low of $101.76 and a twelve month high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

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

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.30%. Target’s dividend payout ratio is currently 50.56%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TGT. Jefferies Financial Group dropped their target price on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a research report on Thursday. KGI Securities set a $132.00 target price on shares of Target in a research note on Wednesday, March 5th. Piper Sandler reduced their price target on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, Oppenheimer lowered their price objective on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $145.55.

About Target

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.