Empowered Funds LLC Has $19.12 Million Stock Holdings in Target Co. (NYSE:TGT)

Empowered Funds LLC increased its holdings in shares of Target Co. (NYSE:TGT) by 87.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,458 shares of the retailer’s stock after buying an additional 66,014 shares during the period. Empowered Funds LLC’s holdings in Target were worth $19,122,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp boosted its position in Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after buying an additional 2,732,801 shares during the period. FMR LLC lifted its position in shares of 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. Geode Capital Management LLC lifted its position in shares of Target by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after purchasing an additional 130,691 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Target by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after purchasing an additional 62,916 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Target by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock worth $475,914,000 after purchasing an additional 56,695 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Roth Mkm dropped their price target on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. lowered their price objective on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Finally, Wells Fargo & Company lowered their price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $157.70.

Target Price Performance

NYSE TGT opened at $131.29 on Friday. The company has a market cap of $60.16 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.15. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm’s 50-day simple moving average is $135.22 and its two-hundred day simple moving average is $143.84.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) 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 firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the previous year, the company posted $2.10 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts predict that Target Co. will post 8.69 earnings per share for the current 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 issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is 47.51%.

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.