Rodgers Brothers Inc. Boosts Stake in Target Co. (NYSE:TGT)

Rodgers Brothers Inc. raised its position in Target Co. (NYSE:TGT) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,653 shares of the retailer’s stock after purchasing an additional 4,750 shares during the quarter. Target accounts for approximately 1.0% of Rodgers Brothers Inc.’s portfolio, making the stock its 24th largest position. Rodgers Brothers Inc.’s holdings in Target were worth $7,794,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Cannell & Spears LLC purchased a new stake in Target during the fourth quarter worth about $257,000. Bedell Frazier Investment Counselling LLC acquired a new position in shares of Target in the fourth quarter valued at approximately $5,943,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Target during the 4th quarter worth approximately $1,052,000. Meeder Asset Management Inc. lifted its holdings in Target by 169.4% during the 4th quarter. Meeder Asset Management Inc. now owns 80,472 shares of the retailer’s stock worth $10,878,000 after buying an additional 50,600 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Target by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer’s stock valued at $7,622,000 after buying an additional 6,253 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Oppenheimer cut their price target on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Truist Financial cut their target price on shares of Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their price target on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. DA Davidson dropped their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, Guggenheim lifted their price objective on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Target has a consensus rating of “Hold” and an average target price of $143.40.

Target Stock Down 2.7 %

TGT opened at $103.63 on Monday. The business has a 50 day simple moving average of $122.96 and a 200-day simple moving average of $136.39. Target Co. has a 12 month low of $101.76 and a 12 month high of $181.86. The stock has a market capitalization of $47.21 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last posted its quarterly 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. Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. On average, equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

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