SOL Capital Management CO Boosts Holdings in Target Co. (NYSE:TGT)

SOL Capital Management CO raised its holdings in shares of Target Co. (NYSE:TGT) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,880 shares of the retailer’s stock after purchasing an additional 840 shares during the period. SOL Capital Management CO’s holdings in Target were worth $524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Target during the 3rd quarter valued at about $28,000. Wolff Wiese Magana LLC grew its stake in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after acquiring an additional 163 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Target in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TGT. Bank of America decreased their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a research note on Wednesday, November 20th. Piper Sandler cut their price objective on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. Finally, Citigroup upped their target price on Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $157.70.

Target Stock Performance

TGT opened at $137.82 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The company has a market cap of $63.15 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.28 and a beta of 1.16. The firm’s fifty day simple moving average is $134.54 and its two-hundred day simple moving average is $144.58.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. Equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.25%. Target’s dividend payout ratio is presently 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.