Target Corporation $TGT Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC increased its holdings in shares of Target Corporation (NYSE:TGT) by 54.2% during the third quarter, HoldingsChannel.com reports. The fund owned 14,746 shares of the retailer’s stock after buying an additional 5,184 shares during the period. NewEdge Wealth LLC’s holdings in Target were worth $1,356,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TGT. Vanguard Group Inc. boosted its holdings in shares of Target by 14.7% during the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after purchasing an additional 6,607,982 shares during the last quarter. Norges Bank purchased a new position in Target during the second quarter worth approximately $578,009,000. State Street Corp boosted its stake in Target by 4.3% during the second quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock worth $3,624,016,000 after buying an additional 1,529,026 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Target by 133.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock valued at $219,376,000 after buying an additional 1,273,129 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Target by 96.1% in the 2nd quarter. California Public Employees Retirement System now owns 2,165,396 shares of the retailer’s stock worth $213,616,000 after acquiring an additional 1,060,885 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $116.62 on Monday. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $127.89. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The company has a 50 day moving average price of $106.09 and a 200 day moving average price of $97.39. The stock has a market capitalization of $52.81 billion, a P/E ratio of 14.15, a PEG ratio of 11.93 and a beta of 1.14.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a yield of 3.9%. Target’s dividend payout ratio (DPR) is 55.34%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TGT. Robert W. Baird lowered their price target on shares of Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $108.00 target price on shares of Target in a report on Thursday, January 8th. Truist Financial raised their price target on shares of Target from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. TD Cowen decreased their price objective on Target from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, November 20th. Finally, Citigroup increased their price objective on Target from $89.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Ten investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.45.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.