Congress Wealth Management LLC DE Purchases New Position in Target Co. (NYSE:TGT)

Congress Wealth Management LLC DE acquired a new position 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 acquired 2,495 shares of the retailer’s stock, valued at approximately $337,000.

A number of other large investors have also recently made changes to their positions in TGT. Townsquare Capital LLC raised its holdings in Target by 24.5% in the 3rd quarter. Townsquare Capital LLC now owns 8,182 shares of the retailer’s stock worth $1,275,000 after purchasing an additional 1,612 shares in the last quarter. Cynosure Group LLC increased its position in shares of Target by 4.3% during the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares during the period. CreativeOne Wealth LLC raised its stake in Target by 31.3% in the third quarter. CreativeOne Wealth LLC now owns 5,877 shares of the retailer’s stock worth $916,000 after buying an additional 1,402 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Target by 12.9% in the third quarter. Public Sector Pension Investment Board now owns 20,172 shares of the retailer’s stock worth $3,144,000 after buying an additional 2,300 shares during the period. Finally, Martingale Asset Management L P boosted its position in Target by 21.1% during the 3rd quarter. Martingale Asset Management L P now owns 13,523 shares of the retailer’s stock valued at $2,108,000 after acquiring an additional 2,352 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

NYSE:TGT opened at $103.63 on Friday. The stock has a 50-day simple moving average of $122.96 and a two-hundred day simple moving average of $136.46. 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 Co. has a 52-week low of $101.76 and a 52-week high of $181.86. The firm has a market capitalization of $47.21 billion, a PE ratio of 10.99, a P/E/G ratio of 1.94 and a beta of 1.18.

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

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 50.56%.

Analyst Ratings Changes

TGT has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Citigroup lowered their price target on shares of Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Truist Financial cut their price objective on shares of Target from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Bank of America lowered their target price on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, KGI Securities set a $132.00 price target on Target in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and a consensus price target of $143.40.

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.