Strategic Wealth Partners Ltd. Increases Stake in Target Co. (NYSE:TGT)

Strategic Wealth Partners Ltd. grew its stake in shares of Target Co. (NYSE:TGT) by 1,092.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,098 shares of the retailer’s stock after purchasing an additional 46,814 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Target were worth $6,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Park Avenue Securities LLC grew its holdings in Target by 26.1% in the 4th quarter. Park Avenue Securities LLC now owns 13,351 shares of the retailer’s stock worth $1,805,000 after acquiring an additional 2,766 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Target by 11.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,577 shares of the retailer’s stock worth $754,000 after purchasing an additional 590 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Target by 14.0% in the fourth quarter. Ritholtz Wealth Management now owns 4,605 shares of the retailer’s stock worth $622,000 after purchasing an additional 565 shares during the last quarter. Merit Financial Group LLC increased its holdings in Target by 10.6% during the 4th quarter. Merit Financial Group LLC now owns 56,193 shares of the retailer’s stock valued at $7,596,000 after purchasing an additional 5,408 shares during the period. Finally, Somerset Trust Co raised its position in Target by 3.5% during the 4th quarter. Somerset Trust Co now owns 17,387 shares of the retailer’s stock valued at $2,350,000 after purchasing an additional 590 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer cut their price objective on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Piper Sandler cut their price target on shares of Target from $124.00 to $105.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Bank of America decreased their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Robert W. Baird lowered shares of Target from an “outperform” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research note on Monday, April 7th. Finally, Truist Financial reduced their price target on shares of Target from $124.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $128.13.

Target Stock Performance

TGT stock opened at $98.56 on Friday. The stock’s 50 day simple moving average is $98.24 and its 200 day simple moving average is $121.85. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40. The stock has a market capitalization of $44.78 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27.

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

Target Dividend Announcement

The business 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 $1.12 dividend. 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 4.55%. Target’s dividend payout ratio 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.