National Wealth Management Group LLC Acquires New Holdings in Target Co. (NYSE:TGT)

National Wealth Management Group LLC purchased a new position in shares of Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,315 shares of the retailer’s stock, valued at approximately $448,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Target during the fourth quarter worth approximately $757,892,000. State Street Corp lifted 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 acquiring an additional 2,732,801 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Target during the fourth quarter valued at about $297,122,000. Two Sigma Advisers LP grew its holdings in Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after buying an additional 1,502,200 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased 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 worth $129,795,000 after buying an additional 737,384 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 0.7 %

Shares of NYSE TGT opened at $104.34 on Tuesday. The firm has a 50 day moving average price of $122.37 and a 200 day moving average price of $136.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a market cap of $47.53 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.94 and a beta of 1.18. Target Co. has a 52-week low of $100.50 and a 52-week high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed 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. This represents a $4.48 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analyst Weigh In

TGT has been the subject of several research reports. DA Davidson reduced their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Piper Sandler cut their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. UBS Group reduced their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Citigroup cut their price target on shares of Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus price target of $143.40.

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.