Bank of New York Mellon Corp Raises Stock Holdings in Target Co. (NYSE:TGT)

Bank of New York Mellon Corp raised its holdings in shares of Target Co. (NYSE:TGT) by 6.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,832,585 shares of the retailer’s stock after buying an additional 234,409 shares during the period. Bank of New York Mellon Corp’s holdings in Target were worth $518,089,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Target by 8.3% during the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after buying an additional 2,732,801 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after acquiring an additional 1,502,200 shares during the last quarter. FMR LLC grew its holdings in Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares in the last quarter. Worldquant Millennium Advisors LLC increased its position in shares of Target by 773.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after purchasing an additional 737,384 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Target in the 3rd quarter valued at about $106,493,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on TGT. Hsbc Global Res downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler dropped their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Roth Mkm reduced their price objective on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, Stifel Nicolaus boosted their target price on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $157.70.

Target Trading Up 1.3 %

Shares of Target stock opened at $127.36 on Wednesday. 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 business has a fifty day simple moving average of $134.20 and a 200-day simple moving average of $142.69. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The firm has a market cap of $58.36 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15.

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 paid a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.52%. Target’s dividend payout ratio is currently 47.51%.

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.