Golden State Wealth Management LLC Takes Position in Target Co. (NYSE:TGT)

Golden State Wealth Management LLC bought a new position in shares of Target Co. (NYSE:TGT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 667 shares of the retailer’s stock, valued at approximately $90,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after buying an additional 2,732,801 shares in the last quarter. FMR LLC grew its position in Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Target by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after acquiring an additional 130,691 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Target by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after purchasing an additional 62,916 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Target by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock worth $475,914,000 after acquiring an additional 56,695 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Trading Down 2.5 %

Shares of TGT stock opened at $131.29 on Monday. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The firm has a market capitalization of $60.16 billion, a P/E ratio of 13.92, a PEG ratio of 2.04 and a beta of 1.15. The stock’s fifty day moving average is $135.22 and its two-hundred day moving average is $143.80. 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 announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the prior year, the business earned $2.10 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Research analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.41%. Target’s dividend payout ratio is currently 47.51%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TGT. Truist Financial boosted their target price on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Wells Fargo & Company lowered their price objective on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Oppenheimer reiterated an “outperform” rating and set a $165.00 target price on shares of Target in a research report on Monday, November 25th. Telsey Advisory Group reiterated an “outperform” rating and issued a $150.00 price objective on shares of Target in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and reduced their target price for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Target presently has an average rating of “Hold” and an average price target of $157.70.

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.