Northern Trust Corp Boosts Stock Holdings in Target Co. (NYSE:TGT)

Northern Trust Corp boosted its stake in shares of Target Co. (NYSE:TGT) by 16.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,376,640 shares of the retailer’s stock after buying an additional 754,883 shares during the period. Northern Trust Corp’s holdings in Target were worth $726,814,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TGT. Hopwood Financial Services Inc. purchased a new position in Target during the fourth quarter valued at $29,000. Bernard Wealth Management Corp. purchased a new position in Target during the fourth quarter valued at $30,000. MCF Advisors LLC grew its stake in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, Legacy Investment Solutions LLC grew its stake in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after buying an additional 85 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 0.2 %

Shares of NYSE:TGT opened at $96.37 on Tuesday. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40. The stock has a market cap of $43.90 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The business’s 50 day moving average is $104.90 and its 200 day moving average is $127.12. 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 (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Sell-side analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.65%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TGT. Mizuho began coverage on shares of Target in a research note on Friday, April 11th. They issued a “neutral” rating and a $92.00 price objective for the company. Baird R W cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Bank of America dropped their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. UBS Group dropped their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, Truist Financial dropped their price objective on shares of Target from $124.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and an average target price of $132.37.

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.