Pendal Group Ltd boosted its holdings in Target Co. (NYSE:TGT – Get Rating) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,852 shares of the retailer's stock after acquiring an additional 223 shares during the period. Pendal Group Ltd's holdings in Target were worth $276,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Adviser Investments LLC acquired a new stake in shares of Target during the 4th quarter worth approximately $5,567,000. Field & Main Bank raised its position in shares of Target by 1.5% during the 4th quarter. Field & Main Bank now owns 10,020 shares of the retailer's stock worth $1,493,000 after purchasing an additional 145 shares during the period. KG&L Capital Management LLC raised its position in shares of Target by 39.2% during the 4th quarter. KG&L Capital Management LLC now owns 19,120 shares of the retailer's stock worth $2,850,000 after purchasing an additional 5,384 shares during the period. Oak Harbor Wealth Partners LLC acquired a new stake in shares of Target during the 4th quarter worth approximately $217,000. Finally, One Plus One Wealth Management LLC acquired a new stake in shares of Target during the 4th quarter worth approximately $285,000. 78.86% of the stock is currently owned by institutional investors and hedge funds.
Get Target alerts:Target Trading Up 1.4 %
NYSE:TGT opened at $160.27 on Friday. The business's 50-day simple moving average is $166.09 and its 200-day simple moving average is $160.30. Target Co. has a fifty-two week low of $137.16 and a fifty-two week high of $254.87. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.92 and a quick ratio of 0.22. The stock has a market capitalization of $73.78 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05.
Target (NYSE:TGT – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The retailer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.49. Target had a net margin of 2.55% and a return on equity of 25.63%. The company had revenue of $31.40 billion during the quarter, compared to analysts' expectations of $30.73 billion. During the same quarter in the prior year, the company earned $3.19 earnings per share. The business's quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts expect that Target Co. will post 8.39 earnings per share for the current fiscal year.
Target Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.70%. Target's dividend payout ratio (DPR) is 72.24%.
Insider Transactions at Target
In related news, insider Brian C. Cornell sold 35,000 shares of Target stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total value of $5,564,300.00. Following the sale, the insider now owns 191,272 shares of the company's stock, valued at approximately $30,408,422.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Gordon Haskett cut Target from a "buy" rating to a "hold" rating and set a $132.00 price target on the stock. in a research report on Wednesday, December 21st. Piper Sandler raised their price objective on shares of Target from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, February 8th. Cowen cut their target price on shares of Target from $210.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, February 15th. Credit Suisse Group upped their price target on shares of Target from $160.00 to $170.00 and gave the company a "neutral" rating in a research report on Wednesday, March 1st. Finally, TheStreet raised shares of Target from a "c+" rating to a "b-" rating in a research note on Thursday, February 16th. Thirteen analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $181.69.
Target Profile
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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.
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