Advisors Asset Management Inc. Has $3.25 Million Position in Target Co. (NYSE:TGT)

Advisors Asset Management Inc. boosted its stake in shares of Target Co. (NYSE:TGT) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,075 shares of the retailer’s stock after buying an additional 675 shares during the quarter. Advisors Asset Management Inc.’s holdings in Target were worth $3,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new position in shares of Target in the 3rd quarter valued at about $28,000. Hopwood Financial Services Inc. acquired a new position in shares of Target in the 4th quarter valued at about $29,000. FSA Wealth Management LLC acquired a new position in shares of Target in the 3rd quarter valued at about $36,000. MCF Advisors LLC lifted its stake in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

Target stock opened at $104.29 on Friday. Target Co. has a 12 month low of $101.76 and a 12 month high of $181.86. 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 business’s 50 day simple moving average is $125.89 and its 200 day simple moving average is $138.13. The company has a market cap of $47.51 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.94 and a beta of 1.18.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.30%. Target’s payout ratio is 50.56%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler dropped their price objective on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Oppenheimer dropped their price target on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Evercore ISI dropped their price target on Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a research note on Wednesday, March 5th. Guggenheim upped their price target on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Roth Capital set a $122.00 price target on Target in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $145.55.

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.