Gen Wealth Partners Inc Increases Stock Position in Target Co. (NYSE:TGT)

Gen Wealth Partners Inc grew its stake in Target Co. (NYSE:TGT) by 6.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,709 shares of the retailer’s stock after acquiring an additional 224 shares during the period. Gen Wealth Partners Inc’s holdings in Target were worth $501,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Capital World Investors increased its stake in Target by 6.3% during the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock worth $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. FMR LLC increased its stake in Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock worth $1,532,769,000 after buying an additional 1,358,348 shares during the period. Geode Capital Management LLC lifted its holdings in Target by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock worth $1,332,317,000 after buying an additional 470,990 shares in the last quarter. Norges Bank purchased a new position in Target in the 4th quarter valued at approximately $757,892,000. Finally, Northern Trust Corp grew its stake in shares of Target by 16.3% in the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer’s stock worth $726,814,000 after acquiring an additional 754,883 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Down 0.6 %

TGT stock opened at $96.39 on Friday. The stock has a market capitalization of $43.80 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a fifty day moving average of $99.88 and a 200-day moving average of $123.63. 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 Co. has a one year low of $87.35 and a one year high of $167.40.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is currently 50.56%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TGT shares. Bank of America decreased their target price on Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Cfra Research downgraded Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. Baird R W cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Piper Sandler lowered their price target on shares of Target from $132.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Target in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $131.20.

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.