Titleist Asset Management LLC Grows Position in Target Co. (NYSE:TGT)

Titleist Asset Management LLC boosted its position in shares of Target Co. (NYSE:TGT) by 53.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,014 shares of the retailer’s stock after purchasing an additional 700 shares during the period. Titleist Asset Management LLC’s holdings in Target were worth $272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Target during the third quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new stake in shares of Target during the 4th quarter worth approximately $29,000. MCF Advisors LLC boosted its holdings in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after acquiring an additional 163 shares during the period. Raleigh Capital Management Inc. grew its position in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after acquiring an additional 135 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Target in the fourth quarter worth $36,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

TGT opened at $94.23 on Tuesday. The firm’s 50-day moving average price is $118.45 and its 200-day moving average price is $134.16. The company has a market cap of $42.93 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52-week low of $90.25 and a 52-week high of $173.05.

Target (NYSE:TGT) last posted 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 business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, equities analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.75%. Target’s payout ratio is presently 50.56%.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent analyst reports. Roth Capital set a $122.00 target price on shares of Target in a research note on Wednesday, March 5th. Guggenheim boosted their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Truist Financial lowered their price target on Target from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, UBS Group reduced their price objective on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $137.48.

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.