Retirement Planning Co of New England Inc. Increases Stock Holdings in Target Co. (NYSE:TGT)

Retirement Planning Co of New England Inc. lifted its stake in shares of Target Co. (NYSE:TGT) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,921 shares of the retailer’s stock after buying an additional 111 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Target were worth $800,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Mystic Asset Management Inc. boosted its position in shares of Target by 6.4% during the fourth quarter. Mystic Asset Management Inc. now owns 6,316 shares of the retailer’s stock valued at $854,000 after buying an additional 379 shares during the last quarter. Haven Capital Group Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $446,000. Flagship Wealth Advisors LLC purchased a new position in shares of Target during the fourth quarter valued at approximately $274,000. Cibc World Markets Corp boosted its position in shares of Target by 14.6% during the fourth quarter. Cibc World Markets Corp now owns 180,749 shares of the retailer’s stock valued at $24,434,000 after buying an additional 23,068 shares during the last quarter. Finally, Nicholas Company Inc. boosted its position in shares of Target by 20.5% during the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after buying an additional 9,485 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $105.61 on Tuesday. Target Co. has a fifty-two week low of $103.46 and a fifty-two week high of $181.86. The stock has a fifty day moving average of $128.68 and a 200-day moving average of $139.29. 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 $48.11 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

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

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.24%. The ex-dividend date is Wednesday, May 14th. Target’s payout ratio is 50.56%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial dropped their price target on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Citigroup dropped their price target on Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, BMO Capital Markets dropped their price target on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Target has an average rating of “Hold” and an average target price of $145.87.

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.