State of Alaska Department of Revenue Buys 9,680 Shares of Target Co. (NYSE:TGT)

State of Alaska Department of Revenue increased its stake in Target Co. (NYSE:TGT) by 17.0% during the fourth quarter, HoldingsChannel reports. The firm owned 66,553 shares of the retailer’s stock after acquiring an additional 9,680 shares during the period. State of Alaska Department of Revenue’s holdings in Target were worth $8,996,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Cynosure Group LLC raised its stake in shares of Target by 4.3% in the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares during the period. Financial Advocates Investment Management raised its stake in Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after acquiring an additional 67 shares during the period. Hancock Whitney Corp lifted its holdings in Target by 3.3% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after purchasing an additional 68 shares during the last quarter. Trust Co. of Vermont boosted its position in Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after purchasing an additional 69 shares during the period. Finally, Eagle Bluffs Wealth Management LLC increased its stake in shares of Target by 1.1% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.5 %

TGT stock opened at $134.59 on Friday. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a market capitalization of $61.67 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15. The company’s 50 day moving average price is $135.16 and its two-hundred day moving average price is $144.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the previous year, the business earned $2.10 EPS. Target’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TGT. JPMorgan Chase & Co. dropped their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a report on Wednesday, November 20th. Truist Financial boosted their price objective on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Oppenheimer restated an “outperform” rating and issued a $165.00 target price on shares of Target in a research note on Monday, November 25th. Finally, Bank of America decreased their price target on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $157.70.

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.