Murphy Pohlad Asset Management LLC Has $4.34 Million Holdings in Target Co. (NYSE:TGT)

Murphy Pohlad Asset Management LLC decreased its position in Target Co. (NYSE:TGT) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,290 shares of the retailer’s stock after selling 1,920 shares during the quarter. Target accounts for approximately 1.9% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 15th largest holding. Murphy Pohlad Asset Management LLC’s holdings in Target were worth $4,336,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TGT. International Assets Investment Management LLC lifted its holdings in shares of Target by 15,009.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after purchasing an additional 1,745,459 shares in the last quarter. Cullen Investment Group LTD. acquired a new position in Target during the fourth quarter worth approximately $1,242,000. Mackenzie Financial Corp increased its position in Target by 28.6% during the fourth quarter. Mackenzie Financial Corp now owns 192,328 shares of the retailer’s stock worth $27,391,000 after buying an additional 42,822 shares during the last quarter. Keel Point LLC increased its position in Target by 31.5% during the fourth quarter. Keel Point LLC now owns 2,764 shares of the retailer’s stock worth $394,000 after buying an additional 662 shares during the last quarter. Finally, First American Trust FSB acquired a new position in Target during the fourth quarter worth approximately $254,000. 79.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Oppenheimer dropped their price target on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial lifted their price target on shares of Target from $153.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price target on shares of Target from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $190.00 price target on shares of Target in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.57.

Target Stock Performance

Shares of TGT stock traded up $2.38 during trading hours on Friday, hitting $144.04. The company’s stock had a trading volume of 3,469,194 shares, compared to its average volume of 3,887,740. The company has a 50 day moving average of $145.25 and a 200 day moving average of $154.18. The stock has a market cap of $66.64 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). The business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. On average, sell-side analysts forecast that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.11%. Target’s dividend payout ratio is 50.28%.

Target Company 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.