Target Co. (NYSE:TGT) Shares Bought by Powers Advisory Group LLC

Powers Advisory Group LLC increased its stake in Target Co. (NYSE:TGT) by 3.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,102 shares of the retailer’s stock after purchasing an additional 307 shares during the quarter. Target comprises about 0.6% of Powers Advisory Group LLC’s holdings, making the stock its 28th largest position. Powers Advisory Group LLC’s holdings in Target were worth $1,230,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Target in the third quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the period. MCF Advisors LLC grew its holdings in Target by 175.3% during 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 in the last quarter. Raleigh Capital Management Inc. increased its stake in 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 period. Finally, FSA Wealth Management LLC acquired a new position in Target in the 3rd quarter worth $36,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

NYSE TGT opened at $140.37 on Friday. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The firm has a market capitalization of $64.32 billion, a PE ratio of 14.89, a P/E/G ratio of 2.28 and a beta of 1.16. The company’s 50 day simple moving average is $134.17 and its 200 day simple moving average is $144.61. 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 (NYSE:TGT) last posted 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 firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the prior year, the firm posted $2.10 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.19%. Target’s dividend payout ratio (DPR) is 47.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup boosted their price target on Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Truist Financial increased their target price on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. cut their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Bank of America decreased their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and cut their target price for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. One investment 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $157.70.

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.