Man Group plc lowered its stake in shares of Target Co. (NYSE:TGT - Free Report) by 86.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,932 shares of the retailer's stock after selling 385,230 shares during the quarter. Man Group plc's holdings in Target were worth $8,372,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new position in Target in the 4th quarter valued at about $29,000. MCF Advisors LLC raised its stake in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC raised its stake in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on TGT shares. 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. Telsey Advisory Group set a $110.00 target price on shares of Target and gave the company a "market perform" rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday. Stifel Nicolaus cut their target price on shares of Target from $130.00 to $120.00 and set a "hold" rating on the stock in a research note on Thursday, March 20th. Finally, Baird R W cut Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Target has a consensus rating of "Hold" and a consensus price target of $117.97.
View Our Latest Stock Report on Target
Target Stock Down 0.8%
NYSE TGT traded down $0.76 during trading on Friday, reaching $94.30. 7,371,358 shares of the company's stock were exchanged, compared to its average volume of 6,007,003. The firm has a market capitalization of $42.85 billion, a PE ratio of 10.00, a P/E/G ratio of 1.94 and a beta of 1.27. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The company's fifty day simple moving average is $97.28 and its 200-day simple moving average is $119.76.
Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Target Co. will post 8.69 EPS for the current year.
Target Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.75%. Target's dividend payout ratio (DPR) is presently 49.23%.
Target Company Profile
(
Free Report)
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.
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