Channing Capital Management LLC Acquires Shares of 65,588 Target Co. (NYSE:TGT)

Channing Capital Management LLC acquired a new stake in shares of Target Co. (NYSE:TGT) in the fourth quarter, HoldingsChannel reports. The firm acquired 65,588 shares of the retailer’s stock, valued at approximately $8,866,000.

Several other large investors have also recently made changes to their positions in TGT. Legacy Investment Solutions LLC purchased a new position in Target during the 3rd quarter valued at approximately $28,000. FSA Wealth Management LLC bought a new position in shares of Target during the 3rd quarter valued at approximately $36,000. MCF Advisors LLC grew its holdings in shares of Target by 175.3% in the fourth 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 position in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Target during the fourth quarter valued at $36,000. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

Shares of TGT stock opened at $113.74 on Tuesday. The firm has a market cap of $52.12 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a 52-week low of $111.84 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. The company’s 50 day moving average is $131.63 and its 200 day moving average is $141.07.

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

Target Dividend Announcement

The company also recently announced 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 of this dividend was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.94%. Target’s payout ratio is 50.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Truist Financial reduced their price objective on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Telsey Advisory Group lowered their price objective on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus lowered their price target on Target from $145.00 to $130.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Target has a consensus rating of “Hold” and a consensus target price of $145.87.

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.