Tidal Investments LLC Increases Stake in Target Co. (NYSE:TGT)

Tidal Investments LLC grew its position in Target Co. (NYSE:TGT) by 9.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,774 shares of the retailer’s stock after buying an additional 3,325 shares during the period. Tidal Investments LLC’s holdings in Target were worth $6,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new position in shares of Target during the second quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Target during the third quarter valued at approximately $28,000. Slocum Gordon & Co LLP bought a new position in Target during the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC purchased a new stake in Target in the second quarter worth approximately $31,000. Finally, Wolff Wiese Magana LLC grew its position in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT stock opened at $134.54 on Friday. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.23 and a beta of 1.17. The business’s fifty day simple moving average is $144.69 and its two-hundred day simple moving average is $147.21. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $2.10 EPS. Analysts predict that Target Co. will post 8.6 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Wednesday, November 20th. Target’s dividend payout ratio is presently 47.51%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TGT shares. Sanford C. Bernstein assumed coverage on Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target on the stock. TD Cowen dropped their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Wells Fargo & Company reduced their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Finally, Evercore ISI reduced their target price on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Target currently has an average rating of “Hold” and an average target price of $160.57.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

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.