Target Co. (NYSE:TGT) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of Target Co. (NYSE:TGT) by 6.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,638 shares of the retailer’s stock after selling 4,550 shares during the period. State of Alaska Department of Revenue’s holdings in Target were worth $11,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of Target during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC purchased a new position in shares of Target during the 4th quarter worth approximately $29,000. Scarborough Advisors LLC purchased a new position in shares of Target during the 4th quarter worth approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Target during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on TGT shares. Bank of America raised their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Barclays lifted their price objective on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Truist Financial dropped their price objective on shares of Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research note on Thursday, May 23rd. Citigroup upgraded shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, May 7th. Finally, StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.61.

Target Stock Performance

NYSE:TGT opened at $144.75 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The company has a market cap of $66.97 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.37 and a beta of 1.19. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The firm’s 50 day moving average is $152.12 and its two-hundred day moving average is $153.41.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same period in the prior year, the business posted $2.05 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Analysts expect that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is presently 49.38%.

Target Company 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.