QRG Capital Management Inc. Has $13.29 Million Position in Target Co. (NYSE:TGT)

QRG Capital Management Inc. lowered its stake in Target Co. (NYSE:TGT) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,343 shares of the retailer’s stock after selling 5,628 shares during the period. QRG Capital Management Inc.’s holdings in Target were worth $13,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Target during the 3rd quarter worth $28,000. FSA Wealth Management LLC acquired a new stake in Target during the 3rd quarter worth $36,000. Catalyst Capital Advisors LLC acquired a new stake in Target during the 3rd quarter worth $38,000. MCF Advisors LLC grew its holdings in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in 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 acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Down 1.0 %

Shares of TGT stock opened at $122.80 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The firm’s fifty day moving average price is $133.91 and its two-hundred day moving average price is $142.42. The firm has a market capitalization of $56.27 billion, a P/E ratio of 13.02, a PEG ratio of 1.94 and a beta of 1.15.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.65%. Target’s payout ratio is currently 47.51%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. BMO Capital Markets lowered their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. Piper Sandler lowered their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Wells Fargo & Company lowered their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a research report on Saturday, February 22nd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $157.93.

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.