Bank of New York Mellon Corp Increases Stock Holdings in Target Co. (NYSE:TGT)

Bank of New York Mellon Corp increased its holdings in Target Co. (NYSE:TGT) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,832,585 shares of the retailer’s stock after buying an additional 234,409 shares during the period. Bank of New York Mellon Corp owned about 0.84% of Target worth $518,089,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TGT. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in Target by 0.3% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 84,627 shares of the retailer’s stock valued at $13,190,000 after buying an additional 252 shares during the last quarter. abrdn plc lifted its position in shares of Target by 5.8% in the third quarter. abrdn plc now owns 676,770 shares of the retailer’s stock valued at $104,436,000 after acquiring an additional 37,353 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Target by 110.0% during the third quarter. Fortitude Family Office LLC now owns 1,386 shares of the retailer’s stock valued at $216,000 after acquiring an additional 726 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Target by 19.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,505 shares of the retailer’s stock worth $235,000 after purchasing an additional 245 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its stake in Target by 15.5% in the 3rd quarter. Fidelis Capital Partners LLC now owns 5,639 shares of the retailer’s stock valued at $835,000 after purchasing an additional 755 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $150.00 price target on shares of Target in a report on Friday, January 17th. JPMorgan Chase & Co. reduced their price target on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Hsbc Global Res downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus increased their target price on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $157.70.

Target Stock Performance

Target stock opened at $127.36 on Wednesday. The firm has a market capitalization of $58.36 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. Target Co. has a one year low of $120.21 and a one year high of $181.86. The stock’s 50 day moving average price is $134.20 and its 200 day moving average price is $142.69. 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 Announces Dividend

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 given a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.52%. Target’s payout ratio is currently 47.51%.

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.