State of Michigan Retirement System Has $16.90 Million Stock Holdings in Target Co. (NYSE:TGT)

State of Michigan Retirement System lowered its stake in Target Co. (NYSE:TGT) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,022 shares of the retailer’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in Target were worth $16,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bedel Financial Consulting Inc. boosted its holdings in shares of Target by 9.6% during the 4th quarter. Bedel Financial Consulting Inc. now owns 1,789 shares of the retailer’s stock valued at $242,000 after acquiring an additional 157 shares in the last quarter. Mission Wealth Management LP raised its position in Target by 109.0% in the fourth quarter. Mission Wealth Management LP now owns 8,453 shares of the retailer’s stock valued at $1,143,000 after purchasing an additional 4,408 shares during the last quarter. Silver Coast Investments LLC boosted its stake in shares of Target by 3.8% during the fourth quarter. Silver Coast Investments LLC now owns 3,592 shares of the retailer’s stock valued at $486,000 after purchasing an additional 131 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Target during the fourth quarter worth about $5,443,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Target by 43.5% in the fourth quarter. Jones Financial Companies Lllp now owns 93,828 shares of the retailer’s stock valued at $12,684,000 after buying an additional 28,435 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Guggenheim lifted their target price on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $150.00 price target on shares of Target in a report on Friday, January 17th. Piper Sandler reduced their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Wells Fargo & Company lowered their target price on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $156.43.

Target Stock Performance

NYSE TGT opened at $117.05 on Wednesday. The company has a market cap of $53.63 billion, a P/E ratio of 12.41, a PEG ratio of 1.94 and a beta of 1.15. The company has a fifty day simple moving average of $133.23 and a 200 day simple moving average of $142.09. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $112.53 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Sell-side analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 47.51%.

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.