1,500 Shares in Target Co. (NYSE:TGT) Acquired by Trace Wealth Advisors LLC

Trace Wealth Advisors LLC acquired a new position in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,500 shares of the retailer’s stock, valued at approximately $203,000.

Other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new position in Target during the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. bought a new stake in Target during the 4th quarter worth approximately $29,000. MCF Advisors LLC grew its holdings in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC grew its holdings in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after acquiring an additional 85 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

Shares of TGT stock opened at $98.56 on Friday. Target Co. has a 12 month low of $87.35 and a 12 month high of $167.40. The stock has a market cap of $44.78 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company’s fifty day moving average price is $98.24 and its 200-day moving average price is $121.85.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion for 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 fiscal year.

Target Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is presently 50.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. KGI Securities set a $132.00 target price on shares of Target in a report on Wednesday, March 5th. Cfra Research lowered shares of Target from a “moderate buy” rating to a “hold” rating in a report on Thursday, April 17th. The Goldman Sachs Group lowered shares of Target from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $142.00 to $101.00 in a report on Wednesday, April 16th. Robert W. Baird lowered shares of Target from an “outperform” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research note on Monday, April 7th. Finally, Truist Financial reduced their price objective on shares of Target from $124.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $128.13.

About Target

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.