Inlet Private Wealth LLC Acquires 3,664 Shares of Target Co. (NYSE:TGT)

Inlet Private Wealth LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 26.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,430 shares of the retailer’s stock after buying an additional 3,664 shares during the period. Inlet Private Wealth LLC’s holdings in Target were worth $2,356,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TGT. State Street Corp raised its stake in shares of Target by 8.3% in the 3rd 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 in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Target by 9,940.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after buying an additional 1,981,458 shares during the period. Two Sigma Advisers LP lifted its position in Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during the last quarter. FMR LLC increased its stake in shares of Target by 11.7% in the third 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. Finally, Worldquant Millennium Advisors LLC boosted its stake in Target by 773.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock valued at $129,795,000 after purchasing an additional 737,384 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TGT shares. Piper Sandler lowered their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Target in a report on Monday, November 25th. Truist Financial boosted their price objective on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Guggenheim raised their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets lowered their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $157.70.

Target Price Performance

Shares of TGT stock opened at $137.82 on Friday. 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 12 month low of $120.21 and a 12 month high of $181.86. The firm has a market cap of $63.15 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.28 and a beta of 1.16. The stock has a 50-day moving average price of $134.80 and a 200 day moving average price of $144.49.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period last year, the firm earned $2.10 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.25%. 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.