Capital World Investors Grows Stock Position in Target Co. (NYSE:TGT)

Capital World Investors boosted its stake in Target Co. (NYSE:TGT) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,930,569 shares of the retailer’s stock after purchasing an additional 1,306,552 shares during the period. Capital World Investors’ holdings in Target were worth $2,964,565,000 at the end of the most recent reporting period.

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

Target Trading Up 2.9 %

NYSE TGT opened at $93.13 on Friday. The company’s 50-day simple moving average is $108.98 and its two-hundred day simple moving average is $129.87. Target Co. has a one year low of $87.35 and a one year high of $169.09. The company has a market capitalization of $42.43 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. 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 issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Equities analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.81%. Target’s payout ratio is currently 50.56%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TGT shares. Jefferies Financial Group decreased their price target on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. StockNews.com lowered Target from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. DA Davidson lowered their price objective on Target from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered shares of Target from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $142.00 to $101.00 in a research note on Wednesday. Finally, Truist Financial dropped their price objective on shares of Target from $124.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $132.37.

Target 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.