Steel Grove Capital Advisors LLC acquired a new stake in Target Corporation (NYSE:TGT – Free Report) in the 4th quarter, HoldingsChannel reports. The fund acquired 5,755 shares of the retailer’s stock, valued at approximately $563,000.
Several other large investors also recently made changes to their positions in the stock. Valtinson Bruner Financial Planning LLC lifted its holdings in Target by 2.6% during the 4th quarter. Valtinson Bruner Financial Planning LLC now owns 3,604 shares of the retailer’s stock valued at $352,000 after purchasing an additional 92 shares during the last quarter. Studio Investment Management LLC lifted its holdings in Target by 6.5% during the 4th quarter. Studio Investment Management LLC now owns 13,120 shares of the retailer’s stock valued at $1,282,000 after purchasing an additional 795 shares during the last quarter. Wealth Advisors of Tampa Bay LLC lifted its holdings in Target by 25.9% during the 4th quarter. Wealth Advisors of Tampa Bay LLC now owns 4,835 shares of the retailer’s stock valued at $473,000 after purchasing an additional 995 shares during the last quarter. Kestra Investment Management LLC lifted its holdings in Target by 2.7% during the 4th quarter. Kestra Investment Management LLC now owns 5,074 shares of the retailer’s stock valued at $496,000 after purchasing an additional 133 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in Target by 29.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 1,100 shares of the retailer’s stock valued at $108,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.
Target Stock Down 0.4%
TGT stock opened at $125.16 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The stock has a market capitalization of $56.85 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.45 and a beta of 1.01. The business’s fifty day moving average price is $122.85 and its two-hundred day moving average price is $110.22. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $133.10.
Target Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 13th will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, May 13th. This represents a $4.56 annualized dividend and a yield of 3.6%. Target’s dividend payout ratio (DPR) is presently 60.24%.
Wall Street Analysts Forecast Growth
TGT has been the subject of several research reports. BNP Paribas Exane raised their price target on Target from $63.00 to $88.00 and gave the company an “underperform” rating in a report on Wednesday, March 4th. Wolfe Research raised Target from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 27th. Royal Bank Of Canada raised their price target on Target from $132.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Freedom Capital downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Argus set a $150.00 price target on Target in a report on Friday. Eleven analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $125.93.
Get Our Latest Analysis on Target
Insiders Place Their Bets
In other Target news, CAO Matthew A. Liegel sold 2,053 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $117.19, for a total transaction of $240,591.07. Following the transaction, the chief accounting officer owned 12,143 shares in the company, valued at $1,423,038.17. This trade represents a 14.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by insiders.
About Target
Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.
Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.
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