Rakuten Securities Inc. Boosts Holdings in Target Co. (NYSE:TGT)

Rakuten Securities Inc. boosted its position in Target Co. (NYSE:TGT) by 999.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,089 shares of the retailer’s stock after buying an additional 1,899 shares during the period. Rakuten Securities Inc.’s holdings in Target were worth $282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TGT. State Street Corp lifted its holdings in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. FMR LLC lifted its holdings in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Geode Capital Management LLC lifted its holdings in Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after acquiring an additional 130,691 shares during the period. Bank of New York Mellon Corp lifted its holdings in Target by 6.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock valued at $518,089,000 after acquiring an additional 234,409 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Target by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after acquiring an additional 62,916 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. 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 research note on Tuesday, November 26th. Piper Sandler cut their price target on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price objective on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets dropped their price objective on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. Finally, Jefferies Financial Group dropped their price objective on Target from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $145.87.

Target Stock Down 0.8 %

TGT stock opened at $112.88 on Wednesday. The business has a 50-day moving average of $131.18 and a 200-day moving average of $140.74. Target Co. has a fifty-two week low of $111.84 and a fifty-two week 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 capitalization of $51.72 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. On average, sell-side analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.97%. Target’s dividend payout ratio (DPR) is currently 50.56%.

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.