Target Co. (NYSE:TGT) Sees Large Increase in Short Interest

Target Co. (NYSE:TGT) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 14,430,000 shares, an increase of 25.3% from the February 28th total of 11,520,000 shares. Based on an average trading volume of 6,410,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.2% of the company’s shares are sold short.

Institutional Investors Weigh In On Target

Several hedge funds have recently modified their holdings of TGT. Kathmere Capital Management LLC raised its position in Target by 3.0% during the 4th quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after buying an additional 73 shares during the last quarter. Horrell Capital Management Inc. raised its holdings in Target by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock worth $3,603,000 after purchasing an additional 76 shares in the last quarter. Fiducient Advisors LLC lifted its position in Target by 4.6% in the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock valued at $240,000 after purchasing an additional 78 shares during the period. First PREMIER Bank boosted its holdings in Target by 21.9% in the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock valued at $61,000 after purchasing an additional 80 shares in the last quarter. Finally, Winch Advisory Services LLC increased its position in Target by 34.5% during the 4th quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock worth $43,000 after purchasing an additional 82 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TGT. Jefferies Financial Group decreased their price target on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Piper Sandler decreased their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. UBS Group reduced their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Roth Capital set a $122.00 price objective on shares of Target in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $142.90.

Target Stock Performance

Target stock traded up $0.01 during midday trading on Tuesday, hitting $104.37. 6,236,425 shares of the company’s stock were exchanged, compared to its average volume of 5,208,813. 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 stock has a market cap of $47.55 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target has a 12-month low of $100.50 and a 12-month high of $181.86. The firm’s 50 day simple moving average is $122.37 and its 200 day simple moving average is $136.08.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Equities research analysts predict that Target will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

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.