Arkfeld Wealth Strategies L.L.C. Grows Stock Position in Target Co. (NYSE:TGT)

Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Target Co. (NYSE:TGT) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,994 shares of the retailer’s stock after buying an additional 258 shares during the quarter. Target comprises 0.7% of Arkfeld Wealth Strategies L.L.C.’s holdings, making the stock its 28th largest position. Arkfeld Wealth Strategies L.L.C.’s holdings in Target were worth $1,526,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after buying an additional 490 shares in the last quarter. D.A. Davidson & CO. lifted its position in Target by 8.6% during the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after buying an additional 9,510 shares in the last quarter. Prana Capital Management LP lifted its position in Target by 47.5% during the third quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after buying an additional 69,885 shares in the last quarter. Polianta Ltd lifted its position in Target by 39.2% during the fourth quarter. Polianta Ltd now owns 10,300 shares of the retailer’s stock worth $1,392,000 after buying an additional 2,900 shares in the last quarter. Finally, Leibman Financial Services Inc. purchased a new position in Target during the fourth quarter worth approximately $2,272,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 0.5 %

NYSE:TGT opened at $137.99 on Friday. The stock has a 50-day simple moving average of $134.37 and a 200-day simple moving average of $144.82. The stock has a market cap of $63.23 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.21 and a beta of 1.16. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts anticipate that Target Co. will post 8.68 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Wednesday, February 12th. Target’s payout ratio is currently 47.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler reduced their price objective on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and issued a $165.00 target price on shares of Target in a research report on Monday, November 25th. Telsey Advisory Group restated an “outperform” rating and issued a $150.00 target price on shares of Target in a research report on Friday, January 17th. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. Finally, HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $158.57.

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.