Royal London Asset Management Ltd. Boosts Stake in Target Co. (NYSE:TGT)

Royal London Asset Management Ltd. lifted its stake in Target Co. (NYSE:TGT) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,592 shares of the retailer’s stock after purchasing an additional 2,659 shares during the period. Royal London Asset Management Ltd.’s holdings in Target were worth $26,575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in Target in the 3rd quarter worth $28,000. Hopwood Financial Services Inc. purchased a new stake in Target in the 4th quarter worth $29,000. FSA Wealth Management LLC purchased a new stake in Target in the 3rd quarter worth $36,000. MCF Advisors LLC increased its stake in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore ISI cut their price target on Target from $135.00 to $130.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. Truist Financial cut their price target on Target from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Bank of America cut their price target on Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Telsey Advisory Group cut their price objective on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Roth Mkm restated a “neutral” rating and set a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Hold” and an average target price of $145.55.

Target Stock Performance

Shares of NYSE:TGT opened at $104.29 on Friday. The firm has a market cap of $47.51 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The firm’s 50 day simple moving average is $125.89 and its 200-day simple moving average is $138.13. Target Co. has a one year low of $101.76 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, equities analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 yield of 4.30%. The ex-dividend date is Wednesday, May 14th. Target’s payout ratio is 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.