Northeast Financial Group Inc. Invests $1.57 Million in Target Co. (NYSE:TGT)

Northeast Financial Group Inc. bought a new position in shares of Target Co. (NYSE:TGT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,581 shares of the retailer’s stock, valued at approximately $1,566,000.

Several other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Target in the third quarter worth $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. MCF Advisors LLC increased 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 last quarter. Raleigh Capital Management Inc. lifted its position in shares of 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 buying an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Target in the third quarter valued at about $36,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Up 0.9 %

NYSE:TGT opened at $141.37 on Thursday. 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 one year low of $120.21 and a one year high of $181.86. The company has a market cap of $64.78 billion, a PE ratio of 14.95, a PEG ratio of 2.21 and a beta of 1.16. The firm has a 50-day moving average of $133.80 and a 200-day moving average of $144.64.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the prior year, the firm posted $2.10 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts expect that Target Co. will post 8.68 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Analysts Set New Price Targets

A number of research firms have recently commented on TGT. Guggenheim increased their target price on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. BMO Capital Markets dropped their price objective on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. Piper Sandler cut their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and set a $165.00 price objective on shares of Target in a research report on Monday, November 25th. Finally, Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $157.70.

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.