Summit Financial Wealth Advisors LLC Increases Stock Position in Target Co. (NYSE:TGT)

Summit Financial Wealth Advisors LLC raised its stake in shares of Target Co. (NYSE:TGT) by 11.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,024 shares of the retailer’s stock after acquiring an additional 300 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Target were worth $536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Target during the fourth quarter worth $759,810,000. International Assets Investment Management LLC boosted its holdings in Target by 15,009.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after acquiring an additional 1,745,459 shares during the period. Los Angeles Capital Management LLC grew its position in Target by 51,357.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after acquiring an additional 1,218,204 shares in the last quarter. Clearbridge Investments LLC grew its position in Target by 58.0% in the 4th quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after acquiring an additional 984,464 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Target by 9.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock worth $1,447,538,000 after purchasing an additional 868,274 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TGT. Gordon Haskett lifted their price objective on shares of Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Tigress Financial increased their target price on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Citigroup raised shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, May 7th. Finally, Truist Financial decreased their price objective on shares of Target from $160.00 to $153.00 and set a “hold” rating for the company in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.61.

Target Price Performance

Shares of Target stock traded up $3.07 during trading on Monday, reaching $148.72. The company’s stock had a trading volume of 5,183,349 shares, compared to its average volume of 3,922,482. The business has a 50 day moving average price of $150.93 and a 200-day moving average price of $153.55. The company has a market capitalization of $68.80 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.37 and a beta of 1.19. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is presently 49.38%.

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.