Empowered Funds LLC Acquires 66,014 Shares of Target Co. (NYSE:TGT)

Empowered Funds LLC raised its holdings in shares of Target Co. (NYSE:TGT) by 87.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,458 shares of the retailer’s stock after acquiring an additional 66,014 shares during the period. Empowered Funds LLC’s holdings in Target were worth $19,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Cynosure Group LLC boosted its stake in shares of Target by 4.3% during the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after purchasing an additional 65 shares during the period. Financial Advocates Investment Management boosted its stake in shares of Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after purchasing an additional 67 shares during the period. Hancock Whitney Corp boosted its stake in shares of Target by 3.3% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after purchasing an additional 68 shares during the period. Trust Co. of Vermont boosted its stake in shares of Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the period. Finally, Eagle Bluffs Wealth Management LLC boosted its stake in shares of Target by 1.1% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock valued at $1,063,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 2.5 %

Target stock opened at $131.29 on Friday. The business has a 50-day simple moving average of $135.22 and a two-hundred day simple moving average of $143.84. The company has a market cap of $60.16 billion, a P/E ratio of 13.92, a P/E/G ratio of 2.04 and a beta of 1.15. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. 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 released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the prior year, the firm earned $2.10 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business 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 of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.41%. Target’s payout ratio is currently 47.51%.

Analysts Set New Price Targets

TGT has been the subject of a number of analyst reports. Guggenheim increased their price objective on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler dropped their price target on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a research note on Wednesday, November 20th. TD Cowen dropped their price target on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Finally, Truist Financial raised their price target on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.