Hsbc Holdings PLC Acquires 324,021 Shares of Target Co. (NYSE:TGT)

Hsbc Holdings PLC grew its position in shares of Target Co. (NYSE:TGT) by 29.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,434,565 shares of the retailer’s stock after purchasing an additional 324,021 shares during the quarter. Hsbc Holdings PLC’s holdings in Target were worth $193,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC lifted its position in shares of Target by 3.0% during the 4th quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after buying an additional 73 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in Target by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock worth $3,603,000 after acquiring an additional 76 shares during the period. Fiducient Advisors LLC boosted its position in Target by 4.6% in the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock worth $240,000 after purchasing an additional 78 shares during the last quarter. First PREMIER Bank grew its stake in Target by 21.9% in the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock valued at $61,000 after purchasing an additional 80 shares during the period. Finally, Winch Advisory Services LLC increased its position in shares of Target by 34.5% during the 4th quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock valued at $43,000 after purchasing an additional 82 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Up 0.3 %

TGT stock opened at $94.07 on Wednesday. Target Co. has a twelve month low of $87.35 and a twelve month high of $168.01. 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 business has a 50 day moving average of $107.61 and a 200 day moving average of $128.93. The firm has a market cap of $42.86 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. On average, research analysts forecast that Target Co. will post 8.69 EPS for the current fiscal 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 paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.76%. Target’s dividend payout ratio is presently 50.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TGT shares. Piper Sandler cut their price target on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Roth Capital set a $122.00 target price on shares of Target in a research note on Wednesday, March 5th. Baird R W lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Telsey Advisory Group reduced their price objective on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, Roth Mkm reissued a “neutral” rating and issued a $122.00 price target (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. One investment analyst has 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $132.37.

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.