Concurrent Investment Advisors LLC Increases Position in Target Co. (NYSE:TGT)

Concurrent Investment Advisors LLC lifted its holdings in Target Co. (NYSE:TGT) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,760 shares of the retailer’s stock after buying an additional 2,301 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Target were worth $4,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in Target in the 3rd quarter worth about $28,000. FSA Wealth Management LLC bought a new stake in shares of Target during the third quarter valued at approximately $36,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Target in the third quarter valued at approximately $38,000. MCF Advisors LLC grew its stake 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 purchasing an additional 163 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Stock Down 1.9 %

Target stock opened at $128.20 on Friday. The business’s 50-day simple moving average is $134.61 and its two-hundred day simple moving average is $142.74. 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 $58.74 billion, a PE ratio of 13.60, a PEG ratio of 1.97 and a beta of 1.15. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the prior year, the company earned $2.10 EPS. Target’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is currently 47.51%.

Analyst Ratings Changes

Several brokerages have weighed in on TGT. BMO Capital Markets lowered their target price on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. TD Cowen reduced their price target on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Roth Mkm dropped their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, Piper Sandler reduced their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $157.70.

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.