Raleigh Capital Management Inc. Grows Stock Position in Target Co. (NYSE:TGT)

Raleigh Capital Management Inc. boosted its holdings in Target Co. (NYSE:TGT) by 110.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 257 shares of the retailer’s stock after acquiring an additional 135 shares during the period. Raleigh Capital Management Inc.’s holdings in Target were worth $35,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Target in the 3rd quarter valued at $28,000. Wolff Wiese Magana LLC lifted its position in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares during the last quarter. MCF Advisors LLC boosted its stake in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Target during the third quarter valued at about $36,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Target during the third quarter valued at about $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $184.00 to $108.00 in a research report on Wednesday, November 20th. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on Target from $137.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Telsey Advisory Group restated an “outperform” rating and set a $150.00 target price on shares of Target in a report on Friday, January 17th. Finally, Truist Financial boosted their price target on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average price target of $158.57.

Target Price Performance

Shares of TGT opened at $137.24 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The stock has a market cap of $62.89 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16. The firm has a fifty day moving average price of $134.98 and a 200 day moving average price of $144.94.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 earnings per share. As a group, sell-side analysts anticipate that Target Co. will post 8.68 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.26%. Target’s payout ratio is 47.51%.

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.