Naples Global Advisors LLC Buys 3,246 Shares of Target Co. (NYSE:TGT)

Naples Global Advisors LLC increased its stake in shares of Target Co. (NYSE:TGT) by 14.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,692 shares of the retailer’s stock after buying an additional 3,246 shares during the quarter. Naples Global Advisors LLC’s holdings in Target were worth $3,473,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Cynosure Group LLC grew its stake in 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 acquiring an additional 65 shares in the last quarter. Financial Advocates Investment Management raised its position in Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after purchasing an additional 67 shares in the last quarter. Hancock Whitney Corp raised its holdings in shares of Target by 3.3% during the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after buying an additional 68 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after acquiring an additional 69 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC lifted its stake in Target by 1.1% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Down 3.7 %

Shares of TGT stock opened at $127.50 on Thursday. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $135.26 and a 200-day simple moving average of $143.56. The stock has a market cap of $58.42 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.04 and a beta of 1.15.

Target (NYSE:TGT) last announced its 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 analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 EPS. On average, analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.51%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and cut their target price for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. Citigroup lifted their price target on shares of Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. TD Cowen cut their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Wells Fargo & Company reduced their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Piper Sandler lowered their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average target price of $157.70.

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.