Avidian Wealth Solutions LLC Has $793,000 Position in Target Co. (NYSE:TGT)

Avidian Wealth Solutions LLC lowered its position in Target Co. (NYSE:TGT) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,477 shares of the retailer’s stock after selling 259 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Target were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Target during the 4th quarter valued at approximately $759,810,000. International Assets Investment Management LLC increased its position in Target by 15,009.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after purchasing an additional 1,745,459 shares during the period. Los Angeles Capital Management LLC increased its position in Target by 51,357.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after purchasing an additional 1,218,204 shares during the period. Clearbridge Investments LLC increased its position in Target by 58.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after purchasing an additional 984,464 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Target by 9.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after purchasing an additional 868,274 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TGT. Evercore ISI raised their price objective on shares of Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a research report on Thursday, June 20th. Piper Sandler began coverage on shares of Target in a research report on Wednesday. They set a “neutral” rating and a $156.00 price objective for the company. BNP Paribas began coverage on shares of Target in a research report on Monday, June 3rd. They set an “underperform” rating and a $116.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Target from $190.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, Citigroup raised shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Target currently has an average rating of “Moderate Buy” and a consensus price target of $176.57.

Target Stock Performance

Shares of NYSE TGT traded down $1.44 during mid-day trading on Wednesday, reaching $146.16. 4,105,255 shares of the company’s stock were exchanged, compared to its average volume of 3,915,671. The firm has a market capitalization of $67.62 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. Target Co. has a 52 week low of $102.93 and a 52 week 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. The firm has a 50-day moving average price of $150.36 and a two-hundred day moving average price of $153.67.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 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 the consensus estimate of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Analysts predict that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a yield of 3.07%. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is 49.38%.

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.