Hedges Asset Management LLC Acquires 3,100 Shares of Target Co. (NYSE:TGT)

Hedges Asset Management LLC lifted its holdings in shares of Target Co. (NYSE:TGT) by 78.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,050 shares of the retailer’s stock after acquiring an additional 3,100 shares during the period. Hedges Asset Management LLC’s holdings in Target were worth $953,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TGT shares. Stifel Nicolaus increased their price objective on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Oppenheimer reiterated an “outperform” rating and set a $165.00 target price on shares of Target in a research report on Monday, November 25th. BMO Capital Markets reduced their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. Truist Financial upped their price objective on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. cut their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Target currently has a consensus rating of “Hold” and an average target price of $158.57.

Target Stock Up 1.1 %

NYSE:TGT opened at $137.24 on Friday. The stock’s fifty day simple moving average is $134.98 and its 200-day simple moving average is $144.94. The firm has a market capitalization of $62.89 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.23 and a beta of 1.16. 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 12-month low of $120.21 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its 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 company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. Equities research analysts expect that Target Co. will post 8.68 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s 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.