Allianz SE Makes New $165,000 Investment in Target Co. (NYSE:TGT)

Allianz SE purchased a new stake in shares of Target Co. (NYSE:TGT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,220 shares of the retailer’s stock, valued at approximately $165,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Target during the third quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new stake in shares of Target in the fourth quarter valued at approximately $29,000. MCF Advisors LLC lifted its stake in shares of 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 buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in Target by 110.7% in 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 purchased a new position in Target in the 3rd quarter valued at approximately $36,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT opened at $104.34 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock’s 50 day simple moving average is $122.37 and its 200 day simple moving average is $136.08. The firm has a market cap of $47.53 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a 1 year low of $100.50 and a 1 year high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. As a group, analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 50.56%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TGT shares. Evercore ISI dropped their target price on Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. Piper Sandler cut their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Roth Mkm reiterated a “neutral” rating and set a $122.00 price target (down from $131.00) on shares of Target in a research report on Wednesday, March 5th. Roth Capital set a $122.00 price objective on shares of Target in a research report on Wednesday, March 5th. Finally, DA Davidson reduced their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.