Ritholtz Wealth Management Increases Stock Holdings in Target Co. (NYSE:TGT)

Ritholtz Wealth Management grew its holdings in shares of Target Co. (NYSE:TGT) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,605 shares of the retailer’s stock after purchasing an additional 565 shares during the period. Ritholtz Wealth Management’s holdings in Target were worth $622,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Target in the 3rd quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its holdings in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the period. FSA Wealth Management LLC purchased a new position in Target in the third quarter valued at $36,000. Catalyst Capital Advisors LLC acquired a new position in Target during the 3rd quarter worth $38,000. Finally, First Financial Corp IN raised its position in Target by 330.8% in the 4th quarter. First Financial Corp IN now owns 280 shares of the retailer’s stock valued at $38,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday. Guggenheim dropped their price objective on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. StockNews.com raised Target from a “hold” rating to a “buy” rating in a research report on Friday. Telsey Advisory Group reiterated an “outperform” rating and issued a $150.00 price target on shares of Target in a research note on Friday. Finally, Melius Research initiated coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $158.23.

Target Price Performance

Shares of NYSE:TGT opened at $133.62 on Tuesday. The firm has a market capitalization of $61.22 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. 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 business’s 50 day simple moving average is $136.13 and its 200-day simple moving average is $145.15. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 earnings per share. As a group, equities analysts forecast that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, February 12th. Target’s 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.