Target Co. (NYSE:TGT) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Target Co. (NYSE:TGT) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,917 shares of the retailer’s stock after buying an additional 3,607 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Target were worth $8,100,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TGT. RNC Capital Management LLC lifted its stake in shares of Target by 23.7% in the fourth quarter. RNC Capital Management LLC now owns 15,944 shares of the retailer’s stock worth $2,155,000 after acquiring an additional 3,059 shares in the last quarter. Leo Wealth LLC raised its position in shares of Target by 153.0% in the 4th quarter. Leo Wealth LLC now owns 4,357 shares of the retailer’s stock valued at $589,000 after purchasing an additional 2,635 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new position in shares of Target during the 4th quarter valued at approximately $300,000. Telos Capital Management Inc. grew its position in shares of Target by 18.7% during the fourth quarter. Telos Capital Management Inc. now owns 3,070 shares of the retailer’s stock worth $415,000 after buying an additional 484 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Target by 17.0% in the fourth quarter. State of Alaska Department of Revenue now owns 66,553 shares of the retailer’s stock worth $8,996,000 after buying an additional 9,680 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler reduced their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Hsbc Global Res downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. BMO Capital Markets reduced their target price on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. Finally, TD Cowen lowered their price target on Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. One investment 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. According to MarketBeat, Target presently has a consensus rating of “Hold” and an average target price of $157.70.

Target Stock Performance

TGT stock opened at $131.29 on Friday. The company has a 50-day simple moving average of $135.24 and a 200 day simple moving average of $143.98. The company has a market capitalization of $60.16 billion, a P/E ratio of 13.92, a PEG ratio of 2.24 and a beta of 1.15. 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 fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same period in the prior year, the company posted $2.10 earnings per share. The company’s revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Target 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.