Centricity Wealth Management LLC Buys Shares of 710 Target Co. (NYSE:TGT)

Centricity Wealth Management LLC purchased a new stake in Target Co. (NYSE:TGT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 710 shares of the retailer’s stock, valued at approximately $96,000.

Other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its stake in Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after purchasing an additional 490 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Target by 25.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after buying an additional 3,590 shares in the last quarter. Northeast Financial Group Inc. purchased a new position in shares of Target in the 4th quarter worth approximately $1,566,000. D.A. Davidson & CO. raised its stake in shares of Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after acquiring an additional 9,510 shares in the last quarter. Finally, LMG Wealth Partners LLC purchased a new stake in Target during the fourth quarter valued at approximately $1,438,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. dropped their target price on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Guggenheim increased their price target on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Citigroup boosted their price target on Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, BMO Capital Markets decreased their price objective on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $157.70.

Target Price Performance

Shares of NYSE TGT opened at $124.40 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm’s 50 day simple moving average is $134.41 and its 200-day simple moving average is $142.67. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The stock has a market capitalization of $57.00 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.98 and a beta of 1.15.

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

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th 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 3.60%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 47.51%.

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.