Voleon Capital Management LP Purchases Shares of 7,789 Target Co. (NYSE:TGT)

Voleon Capital Management LP purchased a new stake in Target Co. (NYSE:TGT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,789 shares of the retailer's stock, valued at approximately $1,053,000.

A number of other large investors have also recently added to or reduced their stakes in TGT. Norges Bank purchased a new position in shares of Target during the fourth quarter valued at approximately $757,892,000. Raymond James Financial Inc. acquired a new position in shares of Target in the 4th quarter valued at about $297,122,000. FMR LLC grew its stake in Target by 13.6% during the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after buying an additional 1,358,348 shares during the period. Capital World Investors raised its position in Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. Finally, Capital Research Global Investors purchased a new stake in shares of Target during the 4th quarter valued at about $150,046,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Shares of Target stock traded up $0.03 during trading on Tuesday, reaching $94.05. The company's stock had a trading volume of 1,729,805 shares, compared to its average volume of 5,739,645. Target Co. has a one year low of $87.35 and a one year high of $167.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a market cap of $42.73 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The business's fifty day moving average price is $101.91 and its 200-day moving average price is $124.96.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $30.83 billion. As a group, equities research analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Wednesday, May 14th. Target's dividend payout ratio (DPR) is presently 50.56%.

Analyst Ratings Changes

A number of brokerages have weighed in on TGT. Roth Capital set a $122.00 price objective on Target in a research note on Wednesday, March 5th. Truist Financial reduced their price objective on Target from $124.00 to $82.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Robert W. Baird downgraded shares of Target from an "outperform" rating to a "neutral" rating and set a $110.00 price objective for the company. in a report on Monday, April 7th. Piper Sandler decreased their target price on Target from $132.00 to $124.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Target from $150.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $132.37.

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.