PGGM Investments Takes Position in Target Co. (NYSE:TGT)

PGGM Investments bought a new stake in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,478 shares of the retailer’s stock, valued at approximately $335,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in Target in the 3rd quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new position in Target in the 4th quarter worth approximately $29,000. MCF Advisors LLC boosted its holdings in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the period. Raleigh Capital Management Inc. boosted its holdings in Target by 110.7% in the 4th 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, FSA Wealth Management LLC bought a new position in Target in the 3rd quarter worth approximately $36,000. 79.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on TGT. Evercore ISI cut their price target on shares of Target from $135.00 to $130.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. Truist Financial cut their price target on shares of Target from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Bank of America cut their price target on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price target on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $145.87.

Target Price Performance

TGT stock opened at $104.71 on Friday. The firm’s 50-day moving average price is $129.35 and its two-hundred day moving average price is $139.88. Target Co. has a 12-month low of $103.46 and a 12-month high of $181.86. The stock has a market capitalization of $47.98 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.94 and a beta of 1.18. 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 (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. As a group, equities analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

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 paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is 50.56%.

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.