Fmr LLC Has $1.53 Billion Stock Position in Target Co. (NYSE:TGT)

Fmr LLC increased its stake in shares of Target Co. (NYSE:TGT) by 13.6% in the fourth quarter, Holdings Channel reports. The firm owned 11,338,729 shares of the retailer’s stock after buying an additional 1,358,348 shares during the quarter. Fmr LLC’s holdings in Target were worth $1,532,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of Target in the 3rd quarter valued at about $28,000. Hopwood Financial Services Inc. acquired a new position in Target during the fourth quarter valued at approximately $29,000. MCF Advisors LLC increased its stake in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Target during the fourth quarter worth $36,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT opened at $95.70 on Monday. 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 stock has a market cap of $43.60 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.94 and a beta of 1.28. Target Co. has a 12-month low of $90.62 and a 12-month high of $173.05. The business has a 50 day moving average of $119.41 and a 200-day moving average of $134.60.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm 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%. On average, equities research analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.68%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analysts Set New Price Targets

Several brokerages recently commented on TGT. UBS Group dropped their price objective on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Stifel Nicolaus dropped their price target on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th. Piper Sandler decreased their price objective on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Guggenheim upped their price target on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Target currently has an average rating of “Hold” and a consensus target price of $140.24.

Target 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.