Target Co. (NYSE:TGT) Shares Acquired by Summit Global Investments

Summit Global Investments increased its stake in Target Co. (NYSE:TGT) by 513.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,356 shares of the retailer’s stock after acquiring an additional 10,342 shares during the period. Summit Global Investments’ holdings in Target were worth $1,670,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in Target in the third quarter valued at $28,000. Hopwood Financial Services Inc. purchased a new position in Target in the fourth quarter valued at $29,000. FSA Wealth Management LLC purchased a new position in Target in the third quarter valued at $36,000. MCF Advisors LLC increased its holdings in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $104.29 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a market cap of $47.51 billion, a P/E ratio of 11.06, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a 52 week low of $101.76 and a 52 week high of $181.86. The company has a 50-day moving average price of $125.89 and a 200 day moving average price of $138.03.

Target (NYSE:TGT) last posted its quarterly earnings results 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 company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Research analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.30%. Target’s payout ratio is 50.56%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TGT shares. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price objective on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Piper Sandler dropped their price objective on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group dropped their price objective on Target from $166.00 to $142.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, Guggenheim raised their price objective on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $145.55.

Target 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.