Rodgers Brothers Inc. Raises Holdings in Target Co. (NYSE:TGT)

Rodgers Brothers Inc. boosted its stake in Target Co. (NYSE:TGT) by 9.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,653 shares of the retailer’s stock after acquiring an additional 4,750 shares during the period. Target makes up approximately 1.0% of Rodgers Brothers Inc.’s portfolio, making the stock its 24th largest position. Rodgers Brothers Inc.’s holdings in Target were worth $7,794,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of Target during the 3rd quarter worth about $28,000. Hopwood Financial Services Inc. bought a new position in Target during the 4th quarter valued at $29,000. MCF Advisors LLC raised its stake in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings 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 period. Finally, FSA Wealth Management LLC bought a new stake in shares of Target during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of NYSE:TGT opened at $103.63 on Monday. The stock has a market capitalization of $47.21 billion, a P/E ratio of 10.99, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a 52 week low of $101.76 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 firm has a fifty day simple moving average of $122.96 and a two-hundred day simple moving average of $136.39.

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

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.32%. Target’s dividend payout ratio is presently 50.56%.

Wall Street Analyst Weigh In

Several research firms have commented on TGT. DA Davidson decreased their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Oppenheimer decreased their price target on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Bank of America dropped their target price on shares of Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. UBS Group lowered their target price on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their price target on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $143.40.

Target 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.