Daiwa Securities Group Inc. Purchases 3,937 Shares of Target Co. (NYSE:TGT)

Daiwa Securities Group Inc. boosted its position in Target Co. (NYSE:TGT) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 63,780 shares of the retailer’s stock after acquiring an additional 3,937 shares during the period. Daiwa Securities Group Inc.’s holdings in Target were worth $8,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. State Street Corp raised its stake in Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. Raymond James Financial Inc. bought a new position in Target in the 4th quarter worth about $297,122,000. Two Sigma Advisers LP boosted its stake in Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after purchasing an additional 1,502,200 shares during the period. FMR LLC boosted its stake in Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in Target by 773.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after purchasing an additional 737,384 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup cut their target price on Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Truist Financial cut their target price on Target from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. UBS Group decreased their target price on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and lowered their price target for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. Finally, KGI Securities set a $132.00 price target on Target in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Target presently has an average rating of “Hold” and an average target price of $145.87.

Target Stock Performance

Target stock opened at $112.88 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average of $131.18 and a 200-day moving average of $140.74. The firm has a market cap of $51.72 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.94 and a beta of 1.18. Target Co. has a 1-year low of $111.84 and a 1-year high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Sell-side analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were issued a $1.12 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.97%. Target’s dividend payout ratio (DPR) is presently 50.56%.

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.