DekaBank Deutsche Girozentrale Grows Stock Holdings in Target Co. (NYSE:TGT)

DekaBank Deutsche Girozentrale boosted its holdings in shares of Target Co. (NYSE:TGT) by 19.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,620 shares of the retailer’s stock after purchasing an additional 37,948 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.05% of Target worth $40,282,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Boston Partners purchased a new stake in shares of Target in the first quarter valued at $335,870,000. Cetera Advisors LLC raised its stake in shares of Target by 142.4% in the first quarter. Cetera Advisors LLC now owns 60,879 shares of the retailer’s stock valued at $10,788,000 after acquiring an additional 35,759 shares during the period. Cetera Investment Advisers grew its holdings in shares of Target by 163.6% in the first quarter. Cetera Investment Advisers now owns 168,426 shares of the retailer’s stock worth $29,847,000 after purchasing an additional 104,529 shares during the last quarter. Invst LLC grew its holdings in shares of Target by 33.5% in the first quarter. Invst LLC now owns 11,586 shares of the retailer’s stock worth $2,060,000 after purchasing an additional 2,908 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Target in the first quarter worth about $107,367,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 5.3 %

NYSE TGT traded down $7.85 during trading hours on Friday, hitting $139.17. 6,476,490 shares of the company were exchanged, compared to its average volume of 3,389,742. The company has a 50 day moving average of $147.70 and a two-hundred day moving average of $154.56. 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 52-week low of $102.93 and a 52-week high of $181.86. The firm has a market cap of $64.39 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 yield of 3.22%. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Upgrades and Downgrades

TGT has been the topic of several recent research reports. BNP Paribas initiated coverage on shares of Target in a report on Monday, June 3rd. They set an “underperform” rating and a $116.00 target price on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 target price on shares of Target in a report on Wednesday, May 22nd. Truist Financial increased their target price on shares of Target from $153.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday. Evercore ISI increased their target price on shares of Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. Finally, Piper Sandler assumed coverage on shares of Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and an average target price of $176.68.

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.