Proficio Capital Partners LLC Boosts Stake in Target Co. (NYSE:TGT)

Proficio Capital Partners LLC lifted its holdings in Target Co. (NYSE:TGT) by 74.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,480 shares of the retailer’s stock after buying an additional 1,910 shares during the quarter. Proficio Capital Partners LLC’s holdings in Target were worth $606,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in Target during the third quarter worth $28,000. FSA Wealth Management LLC purchased a new stake in Target during the third quarter worth $36,000. MCF Advisors LLC boosted its position in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in 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 in the last quarter. Finally, First Financial Corp IN boosted its position in Target by 330.8% during the fourth quarter. First Financial Corp IN now owns 280 shares of the retailer’s stock worth $38,000 after purchasing an additional 215 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of NYSE:TGT opened at $104.29 on Monday. The firm has a market capitalization of $47.51 billion, a PE ratio of 11.06, a P/E/G ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business has a 50-day moving average of $125.89 and a two-hundred day moving average of $137.93. Target Co. has a 12 month low of $101.76 and a 12 month high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, research analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.30%. Target’s dividend payout ratio (DPR) is currently 50.56%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TGT. Oppenheimer decreased their target price on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Guggenheim upped their price objective on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Roth Capital set a $122.00 price objective on Target in a research report on Wednesday, March 5th. Finally, Piper Sandler reduced their price objective on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $145.55.

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.