Newbridge Financial Services Group Inc. Invests $128,000 in Target Co. (NYSE:TGT)

Newbridge Financial Services Group Inc. purchased a new stake in shares of Target Co. (NYSE:TGT) during the fourth quarter, Holdings Channel.com reports. The fund purchased 945 shares of the retailer’s stock, valued at approximately $128,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares during the last quarter. FMR LLC grew its holdings in shares of Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Target by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after acquiring an additional 130,691 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Target by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after acquiring an additional 62,916 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Target by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock worth $475,914,000 after acquiring an additional 56,695 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

NYSE:TGT opened at $131.29 on Monday. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The stock has a fifty day moving average of $135.22 and a 200 day moving average of $143.80. 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 firm has a market capitalization of $60.16 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 2.04 and a beta of 1.15.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 EPS. On average, research analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is 47.51%.

Wall Street Analyst Weigh In

TGT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and decreased their target price for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Wells Fargo & Company decreased their price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Truist Financial boosted their target price on shares of Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $157.70.

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.