Commonwealth Financial Services LLC Raises Holdings in Target Co. (NYSE:TGT)

Commonwealth Financial Services LLC raised its position in Target Co. (NYSE:TGT) by 7.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,903 shares of the retailer’s stock after purchasing an additional 135 shares during the period. Commonwealth Financial Services LLC’s holdings in Target were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after purchasing an additional 1,981,458 shares during the last quarter. Two Sigma Advisers LP lifted its position in Target by 173.2% during the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after buying an additional 1,502,200 shares in the last quarter. FMR LLC boosted its stake in Target by 11.7% during the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after buying an additional 1,046,044 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in Target by 773.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock valued at $129,795,000 after buying an additional 737,384 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 2.7 %

Shares of NYSE:TGT opened at $134.24 on Tuesday. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock has a market cap of $61.51 billion, a P/E ratio of 14.24, a P/E/G ratio of 2.24 and a beta of 1.15. The firm has a fifty day moving average price of $134.80 and a 200 day moving average price of $144.33.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $2.10 EPS. Sell-side analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Wednesday, February 12th. Target’s payout ratio is currently 47.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TGT shares. Truist Financial boosted their price target on shares of Target from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. TD Cowen decreased their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Stifel Nicolaus raised their price target on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $157.70.

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.