State of Tennessee Treasury Department Has $27.04 Million Position in Target Co. (NYSE:TGT)

State of Tennessee Treasury Department grew its position in shares of Target Co. (NYSE:TGTFree Report) by 167.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,879 shares of the retailer’s stock after purchasing an additional 118,964 shares during the quarter. State of Tennessee Treasury Department’s holdings in Target were worth $27,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. bought a new stake in Target during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new position in shares of Target during the fourth quarter worth $29,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Target in the fourth quarter worth $33,000. Partnership Wealth Management LLC acquired a new stake in Target in the fourth quarter valued at $40,000. Finally, Pingora Partners LLC acquired a new stake in Target in the fourth quarter valued at $43,000. 79.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TGT has been the topic of several recent research reports. Tigress Financial lifted their target price on Target from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. DA Davidson upped their target price on Target from $167.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Truist Financial decreased their target price 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. Roth Mkm restated a “neutral” rating and issued a $153.00 price target on shares of Target in a research report on Thursday, May 23rd. Finally, Guggenheim increased their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $178.11.

Get Our Latest Stock Analysis on TGT

Target Stock Up 1.7 %

Shares of NYSE TGT opened at $148.52 on Tuesday. The stock has a market capitalization of $68.71 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.37 and a beta of 1.20. The company has a 50-day moving average price of $159.71 and a 200-day moving average price of $152.19. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27.

Target (NYSE:TGTGet Free Report) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The business had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. On average, equities research analysts forecast that Target Co. will post 9.32 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Tuesday, May 14th. Target’s dividend payout ratio is currently 49.38%.

Insider Activity

In related news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of Target stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares in the company, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

About Target

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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