Alta Advisers Ltd Grows Stock Position in Target Co. (NYSE:TGT)

Alta Advisers Ltd increased its holdings in Target Co. (NYSE:TGT) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,531 shares of the retailer’s stock after buying an additional 231 shares during the quarter. Alta Advisers Ltd’s holdings in Target were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. Hopwood Financial Services Inc. bought a new stake in shares of Target during the 4th quarter valued at $29,000. Bernard Wealth Management Corp. bought a new stake in Target during the fourth quarter valued at about $30,000. MCF Advisors LLC increased its position in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC lifted its position in shares of 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 buying an additional 85 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 0.3 %

Shares of NYSE TGT opened at $94.07 on Wednesday. The business’s 50 day moving average price is $107.61 and its 200-day moving average price is $128.93. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $168.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market cap of $42.86 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. On average, sell-side analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TGT shares. DA Davidson decreased their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Robert W. Baird cut shares of Target from an “outperform” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research note on Monday, April 7th. Mizuho initiated coverage on Target in a research note on Friday, April 11th. They issued a “neutral” rating and a $92.00 price target for the company. Truist Financial dropped their price objective on Target from $124.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Finally, Guggenheim lifted their target price on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $132.37.

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.