Fayez Sarofim & Co Acquires 10,932 Shares of Target Co. (NYSE:TGT)

Fayez Sarofim & Co increased its holdings in shares of Target Co. (NYSE:TGT) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 184,966 shares of the retailer’s stock after acquiring an additional 10,932 shares during the period. Fayez Sarofim & Co’s holdings in Target were worth $25,004,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Target during the 4th quarter valued at $29,000. Bernard Wealth Management Corp. purchased a new position in shares of Target in the fourth quarter worth $30,000. MCF Advisors LLC lifted its stake in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC increased its holdings in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 2.9 %

NYSE TGT opened at $93.13 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 12 month low of $87.35 and a 12 month high of $169.09. The company has a market capitalization of $42.43 billion, a PE ratio of 9.88, a P/E/G ratio of 1.94 and a beta of 1.28. The stock has a 50-day simple moving average of $108.98 and a 200 day simple moving average of $129.59.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating 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 firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Research analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently disclosed 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 is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.81%. Target’s payout ratio is 50.56%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Stifel Nicolaus dropped their price objective on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a report on Thursday, March 20th. DA Davidson reduced 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, March 5th. JPMorgan Chase & Co. dropped their price objective on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Finally, Piper Sandler reduced their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $132.37.

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.