Pacer Advisors Inc. Grows Stock Position in Target Co. (NYSE:TGT)

Pacer Advisors Inc. boosted its position in shares of Target Co. (NYSE:TGT) by 499.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,657 shares of the retailer’s stock after buying an additional 187,199 shares during the quarter. Pacer Advisors Inc.’s holdings in Target were worth $30,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TGT. Legacy Investment Solutions LLC bought a new position in Target during the 3rd quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its position in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares during the period. FSA Wealth Management LLC bought a new position in shares of Target during the third quarter valued at approximately $36,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Target in the third quarter worth approximately $38,000. Finally, MCF Advisors LLC boosted its holdings in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after acquiring an additional 163 shares during the period. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. TD Cowen decreased their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. Bank of America reduced their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Sanford C. Bernstein started coverage on Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target for the company. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Target presently has an average rating of “Hold” and a consensus target price of $158.57.

Target Stock Up 3.3 %

Shares of TGT stock opened at $142.44 on Tuesday. 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 capitalization of $65.27 billion, a PE ratio of 15.11, a P/E/G ratio of 2.21 and a beta of 1.16. 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 stock’s 50-day simple moving average is $134.37 and its 200-day simple moving average is $144.79.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 earnings per share. Equities analysts expect that Target Co. will post 8.68 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is currently 47.51%.

Target Company 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.