Smithbridge Asset Management Inc. DE Boosts Stock Position in Target Co. (NYSE:TGT)

Smithbridge Asset Management Inc. DE boosted its holdings in shares of Target Co. (NYSE:TGT) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,989 shares of the retailer’s stock after acquiring an additional 231 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Target were worth $2,515,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TGT. International Assets Investment Management LLC lifted its holdings in shares of Target by 15,009.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock worth $250,244,000 after buying an additional 1,745,459 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Target by 28.6% in the 4th quarter. Mackenzie Financial Corp now owns 192,328 shares of the retailer’s stock worth $27,391,000 after buying an additional 42,822 shares during the period. DGS Capital Management LLC purchased a new stake in shares of Target in the 4th quarter worth $214,000. Wealth Alliance lifted its holdings in shares of Target by 32.8% in the 4th quarter. Wealth Alliance now owns 4,219 shares of the retailer’s stock worth $601,000 after buying an additional 1,042 shares during the period. Finally, TRUE Private Wealth Advisors purchased a new stake in shares of Target in the 4th quarter worth $241,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Target from $209.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. Truist Financial boosted their price target on Target from $153.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their price target on Target from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, BMO Capital Markets reduced their price target on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.57.

Target Stock Performance

Shares of TGT traded up $2.38 during mid-day trading on Friday, reaching $144.04. The company had a trading volume of 3,473,906 shares, compared to its average volume of 3,887,753. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $66.64 billion, a P/E ratio of 16.17, a PEG ratio of 1.38 and a beta of 1.19. The stock has a 50 day moving average of $145.21 and a two-hundred day moving average of $154.30.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 3.11%. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 50.28%.

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.