Target Co. (NYSE:TGT) Shares Purchased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd raised its stake in Target Co. (NYSE:TGT) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,127 shares of the retailer’s stock after purchasing an additional 127 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Target were worth $6,756,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new position in Target in the fourth quarter valued at about $28,000. Private Wealth Management Group LLC purchased a new position in Target in the fourth quarter valued at about $29,000. Rakuten Securities Inc. purchased a new position in Target in the fourth quarter valued at about $29,000. Scarborough Advisors LLC purchased a new position in Target in the fourth quarter valued at about $29,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in Target in the fourth quarter valued at about $33,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Roth Mkm reaffirmed a “neutral” rating and set a $153.00 target price on shares of Target in a research report on Thursday, May 23rd. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group lifted their target price on Target from $176.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Truist Financial dropped their target price on Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $177.61.

Target Price Performance

Shares of NYSE:TGT opened at $146.13 on Friday. The company has a market cap of $67.61 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The firm has a 50 day simple moving average of $154.75 and a 200 day simple moving average of $152.79. Target Co. has a one year low of $102.93 and a one year high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. Research analysts predict that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.07%. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is presently 49.38%.

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.