Cannell & Spears LLC Takes $257,000 Position in Target Co. (NYSE:TGT)

Cannell & Spears LLC purchased a new position in shares of Target Co. (NYSE:TGT) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,900 shares of the retailer’s stock, valued at approximately $257,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in Target during the 3rd quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in Target during the fourth quarter worth $29,000. MCF Advisors LLC raised its position 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 acquiring an additional 163 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after acquiring an additional 135 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Target during the 4th quarter worth $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent analyst reports. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a research report on Wednesday, March 5th. Truist Financial lowered their price target on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. KGI Securities set a $132.00 price objective on Target in a report on Wednesday, March 5th. Finally, Jefferies Financial Group lowered their target price on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $142.90.

Target Stock Performance

Shares of TGT stock opened at $104.37 on Wednesday. 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 firm has a market capitalization of $47.55 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target Co. has a one year low of $100.50 and a one year high of $177.89. The company has a 50 day moving average price of $121.72 and a 200 day moving average price of $135.75.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Sell-side analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

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.