Target Co. (NYSE:TGT) Shares Acquired by Commonwealth Financial Services LLC

Commonwealth Financial Services LLC boosted its position in Target Co. (NYSE:TGT) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,903 shares of the retailer’s stock after purchasing an additional 135 shares during the period. Commonwealth Financial Services LLC’s holdings in Target were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TGT. State Street Corp lifted its stake 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 purchasing an additional 2,732,801 shares during the period. FMR LLC increased its holdings in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after buying an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Target by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after acquiring an additional 130,691 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Target by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after acquiring an additional 62,916 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Target by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock worth $475,914,000 after acquiring an additional 56,695 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT stock opened at $134.24 on Tuesday. The company has a market cap of $61.51 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $134.80 and a two-hundred day moving average price of $144.33. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) 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 firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

Analyst Upgrades and Downgrades

TGT has been the subject of several research reports. Roth Mkm reduced their price objective on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and cut their price target for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective on the stock. in a research note on Wednesday, November 20th. Wells Fargo & Company cut their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Piper Sandler lowered their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $157.70.

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.