AMF Tjanstepension AB lessened its holdings in shares of Target Co. (NYSE:TGT – Get Rating) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,161 shares of the retailer’s stock after selling 13,264 shares during the quarter. AMF Tjanstepension AB owned approximately 0.07% of Target worth $65,424,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Landmark Wealth Management LLC purchased a new stake in shares of Target during the first quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Target in the fourth quarter valued at $27,000. Sterling Investment Advisors Ltd. boosted its stake in Target by 12,500.0% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer’s stock worth $29,000 after buying an additional 125 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at about $29,000. Finally, Emerald Advisers LLC purchased a new stake in shares of Target during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 81.83% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on TGT. Deutsche Bank Aktiengesellschaft reduced their price target on Target from $227.00 to $198.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. Barclays decreased their price target on Target from $200.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 8th. The Goldman Sachs Group decreased their price objective on Target from $191.00 to $171.00 and set a “buy” rating on the stock in a research report on Wednesday, June 8th. Piper Sandler assumed coverage on Target in a research report on Friday, July 22nd. They issued a “neutral” rating and a $190.00 price target on the stock. Finally, TheStreet downgraded Target from a “b-” rating to a “c+” rating in a research note on Friday, June 24th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Target has a consensus rating of “Moderate Buy” and an average target price of $189.44.
Insiders Place Their Bets
Target Stock Performance
Shares of Target stock traded up $4.26 during trading hours on Thursday, reaching $158.86. 65,109 shares of the stock traded hands, compared to its average volume of 5,035,102. The company has a 50 day moving average price of $150.84 and a 200 day moving average price of $195.70. The firm has a market capitalization of $73.66 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.76 and a beta of 1.00. The company has a quick ratio of 0.14, a current ratio of 0.87 and a debt-to-equity ratio of 1.24. Target Co. has a one year low of $137.16 and a one year high of $268.98.
Target (NYSE:TGT – Get Rating) last issued its quarterly earnings data on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.81). Target had a net margin of 5.48% and a return on equity of 44.75%. The business had revenue of $24.83 billion during the quarter, compared to analyst estimates of $24.48 billion. During the same period in the previous year, the business posted $3.69 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Target Co. will post 8.7 earnings per share for the current fiscal year.
Target Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This is a positive change from Target’s previous quarterly dividend of $0.90. This represents a $4.32 annualized dividend and a dividend yield of 2.72%. Target’s dividend payout ratio is 29.85%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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