Bedel Financial Consulting Inc. Increases Stock Position in Target Co. (NYSE:TGT)

Bedel Financial Consulting Inc. raised its stake in Target Co. (NYSE:TGT) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,789 shares of the retailer’s stock after acquiring an additional 157 shares during the period. Bedel Financial Consulting Inc.’s holdings in Target were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in TGT. State Street Corp boosted its holdings in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. Two Sigma Advisers LP raised its position in Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after purchasing an additional 1,502,200 shares during the last quarter. FMR LLC boosted its stake in Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares during the period. Worldquant Millennium Advisors LLC grew its position in Target by 773.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after purchasing an additional 737,384 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Target during the 3rd quarter worth $106,493,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent research reports. Piper Sandler decreased their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. BMO Capital Markets decreased their price objective on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. Roth Mkm lowered their target price on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. TD Cowen cut 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 lifted their price objective on shares of Target from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $156.43.

Target Trading Down 3.1 %

Shares of TGT stock opened at $117.05 on Wednesday. The stock has a market cap of $53.63 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.94 and a beta of 1.15. 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 Co. has a fifty-two week low of $112.53 and a fifty-two week high of $181.86. The business has a fifty day simple moving average of $133.23 and a 200-day simple moving average of $142.09.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Wednesday, February 12th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.83%. Target’s dividend payout ratio is currently 47.51%.

About Target

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.