Raymond James Financial Inc. Invests $297.12 Million in Target Co. (NYSE:TGT)

Raymond James Financial Inc. bought a new stake in Target Co. (NYSE:TGT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,197,974 shares of the retailer’s stock, valued at approximately $297,122,000. Raymond James Financial Inc. owned about 0.48% of Target as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Harbor Capital Advisors Inc. acquired a new position in Target in the 3rd quarter valued at about $49,000. Impax Asset Management Group plc boosted its stake in shares of Target by 8.6% in the third quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer’s stock valued at $37,632,000 after purchasing an additional 19,095 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Target in the third quarter valued at approximately $38,000. Avidian Wealth Enterprises LLC increased its stake in Target by 4.7% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 4,282 shares of the retailer’s stock worth $667,000 after buying an additional 193 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in Target by 0.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 31,459 shares of the retailer’s stock worth $4,903,000 after buying an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 2.4 %

Shares of Target stock opened at $113.78 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market capitalization of $52.13 billion, a P/E ratio of 12.07, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a 1 year low of $112.53 and a 1 year high of $181.86. The company’s fifty day moving average is $132.46 and its two-hundred day moving average is $141.72.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analyst Weigh In

Several research firms have commented on TGT. JPMorgan Chase & Co. dropped their price target on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a report on Monday. DA Davidson decreased their price objective on Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial cut their target price on shares of Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Citigroup reduced their target price on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $147.00.

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.