Crewe Advisors LLC Buys New Position in Target Co. (NYSE:TGT)

Crewe Advisors LLC bought a new position in shares of Target Co. (NYSE:TGT) in the 1st quarter, Holdings Channel.com reports. The fund bought 580 shares of the retailer’s stock, valued at approximately $103,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TGT. Norges Bank acquired a new position in Target during the fourth quarter worth approximately $759,810,000. International Assets Investment Management LLC boosted its stake in shares of Target by 15,009.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock worth $250,244,000 after purchasing an additional 1,745,459 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Target by 51,357.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after purchasing an additional 1,218,204 shares during the period. Clearbridge Investments LLC grew its position in Target by 58.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after acquiring an additional 984,464 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Target by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after buying an additional 868,274 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of research reports. Citigroup raised shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, May 7th. Jefferies Financial Group increased their target price on Target from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Deutsche Bank Aktiengesellschaft reduced their price target on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Truist Financial lowered their price objective on shares of Target from $160.00 to $153.00 and set a “hold” rating for the company in a research report on Thursday, May 23rd. Finally, StockNews.com cut shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $176.57.

Target Stock Performance

TGT traded up $2.72 during trading hours on Friday, hitting $149.01. The company’s stock had a trading volume of 486,776 shares, compared to its average volume of 3,837,177. The company has a 50-day simple moving average of $148.21 and a 200 day simple moving average of $154.28. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $68.94 billion, a PE ratio of 16.74, a PEG ratio of 1.38 and a beta of 1.19. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The company had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, sell-side analysts expect that Target Co. will post 9.31 EPS for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.01%. Target’s dividend payout ratio (DPR) is 50.28%.

Target 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.