Forum Financial Management LP Purchases 2,933 Shares of Target Co. (NYSE:TGT)

Forum Financial Management LP lifted its position in Target Co. (NYSE:TGT - Free Report) by 97.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,939 shares of the retailer's stock after acquiring an additional 2,933 shares during the period. Forum Financial Management LP's holdings in Target were worth $803,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TGT. Avior Wealth Management LLC increased its position in shares of Target by 8.9% in the fourth quarter. Avior Wealth Management LLC now owns 4,700 shares of the retailer's stock worth $635,000 after acquiring an additional 384 shares in the last quarter. Brighton Jones LLC grew its position in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after purchasing an additional 3,059 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in Target by 16.1% during the fourth quarter. Cornerstone Wealth Management LLC now owns 7,215 shares of the retailer's stock valued at $975,000 after purchasing an additional 1,003 shares in the last quarter. CX Institutional grew its position in Target by 9.3% during the fourth quarter. CX Institutional now owns 3,994 shares of the retailer's stock valued at $540,000 after purchasing an additional 340 shares in the last quarter. Finally, Gradient Investments LLC grew its position in Target by 30.6% during the fourth quarter. Gradient Investments LLC now owns 221,061 shares of the retailer's stock valued at $29,883,000 after purchasing an additional 51,794 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Target stock traded down $0.94 on Friday, hitting $93.93. The company's stock had a trading volume of 2,372,509 shares, compared to its average volume of 6,011,598. Target Co. has a one year low of $87.35 and a one year high of $167.40. The firm has a market cap of $42.68 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average price of $96.49 and a 200-day moving average price of $118.65.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the company posted $2.03 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Wednesday, May 14th. Target's payout ratio is 49.23%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TGT shares. Baird R W downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Cfra Research downgraded shares of Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. UBS Group lowered their price objective on shares of Target from $170.00 to $155.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Piper Sandler set a $94.00 target price on shares of Target and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, Sanford C. Bernstein cut shares of Target from a "market perform" rating to an "underperform" rating and reduced their target price for the company from $97.00 to $82.00 in a research note on Monday, May 12th. Two analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Target has a consensus rating of "Hold" and a consensus price target of $116.68.

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.