Virginia Wealth Management Group Inc. Acquires Shares of 35,465 Target Co. (NYSE:TGT)

Virginia Wealth Management Group Inc. bought a new position in Target Co. (NYSE:TGT) in the 4th quarter, Holdings Channel.com reports. The fund bought 35,465 shares of the retailer’s stock, valued at approximately $4,794,000. Target accounts for about 3.0% of Virginia Wealth Management Group Inc.’s portfolio, making the stock its 9th largest holding.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Target during the third quarter valued at approximately $28,000. Wolff Wiese Magana LLC increased its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Target during the 3rd quarter valued at approximately $36,000. Catalyst Capital Advisors LLC bought a new position in Target during the third quarter worth $38,000. Finally, MCF Advisors LLC increased its stake in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $135.57 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average of $134.87 and a 200-day moving average of $144.21. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The firm has a market cap of $62.12 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same quarter last year, the firm posted $2.10 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal 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 dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is 47.51%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of recent research reports. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Guggenheim raised their target price on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and lowered their target price for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. Truist Financial boosted their price objective on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Piper Sandler lowered their price objective on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.