Bedell Frazier Investment Counselling LLC Takes Position in Target Co. (NYSE:TGT)

Bedell Frazier Investment Counselling LLC acquired a new position in shares of Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 43,963 shares of the retailer’s stock, valued at approximately $5,943,000. Target accounts for 1.5% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Target during the 4th quarter worth approximately $757,892,000. State Street Corp boosted its holdings in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Target during the fourth quarter worth $297,122,000. Two Sigma Advisers LP raised its holdings in shares of Target by 173.2% during the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its position in Target by 773.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock valued at $129,795,000 after acquiring an additional 737,384 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of research reports. Stifel Nicolaus cut their price target on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a report on Thursday, March 20th. UBS Group cut 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. Roth Capital set a $122.00 price target on Target in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price objective on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $143.40.

Target Stock Down 2.7 %

TGT stock opened at $103.63 on Monday. The stock has a market capitalization of $47.21 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. 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 price of $122.96 and a 200-day moving average price of $136.39. Target Co. has a 12 month low of $101.76 and a 12 month high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, equities research analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.32%. Target’s dividend payout ratio (DPR) is presently 50.56%.

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.