ArrowMark Colorado Holdings LLC Grows Stock Position in Target Co. (NYSE:TGT)

ArrowMark Colorado Holdings LLC grew its stake in shares of Target Co. (NYSE:TGT) by 4,476.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,234 shares of the retailer’s stock after acquiring an additional 100,000 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Target were worth $13,820,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TGT. Capital World Investors increased its holdings in shares of Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. FMR LLC raised its position in Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock worth $1,532,769,000 after buying an additional 1,358,348 shares during the last quarter. Geode Capital Management LLC lifted its stake in Target by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after acquiring an additional 470,990 shares during the period. Norges Bank purchased a new stake in shares of Target in the 4th quarter valued at $757,892,000. Finally, Northern Trust Corp increased its stake in shares of Target by 16.3% in the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer’s stock worth $726,814,000 after acquiring an additional 754,883 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the topic of several recent research reports. KGI Securities set a $132.00 price target on shares of Target in a report on Wednesday, March 5th. Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Oppenheimer lowered their price objective on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Piper Sandler cut their target price 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. Finally, DA Davidson lowered their price target on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Target presently has an average rating of “Hold” and an average target price of $132.37.

Target Stock Performance

NYSE:TGT opened at $97.29 on Friday. The company’s 50-day moving average is $102.51 and its two-hundred day moving average is $125.61. The firm has a market capitalization of $44.32 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping 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 company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $1.12 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.60%. Target’s payout ratio is currently 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.