Meiji Yasuda Asset Management Co Ltd. Raises Position in Target Co. (NYSE:TGT)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Target Co. (NYSE:TGT) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,819 shares of the retailer’s stock after buying an additional 2,923 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Target were worth $11,466,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TGT. Thrivent Financial for Lutherans lifted its holdings in Target by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in Target in the third quarter worth about $644,000. Nwam LLC purchased a new position in Target during the 3rd quarter valued at $436,000. Cerity Partners LLC grew its holdings in shares of Target by 13.5% in the third quarter. Cerity Partners LLC now owns 176,584 shares of the retailer’s stock worth $27,522,000 after purchasing an additional 21,008 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Target by 25.0% during the third quarter. Larson Financial Group LLC now owns 8,803 shares of the retailer’s stock valued at $1,372,000 after acquiring an additional 1,760 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of NYSE TGT opened at $108.43 on Tuesday. 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 company has a market cap of $49.40 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.94 and a beta of 1.18. The business’s 50 day moving average is $125.28 and its two-hundred day moving average is $137.62. Target Co. has a 12 month low of $101.76 and a 12 month high of $181.86.

Target (NYSE:TGT) last announced its quarterly 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 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 analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently announced 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. This represents a $4.48 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TGT. Jefferies Financial Group reduced their price objective on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company lowered their price objective on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. KGI Securities set a $132.00 price target on shares of Target in a research report on Wednesday, March 5th. DA Davidson lowered their target price on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on shares of Target from $132.00 to $124.00 and set a “neutral” rating for the company in a 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $145.55.

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.