Target Co. (NYSE:TGT) Stock Position Raised by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its position in Target Co. (NYSE:TGT) by 16.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,215 shares of the retailer’s stock after acquiring an additional 1,003 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Target were worth $975,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Target in the 3rd quarter valued at approximately $28,000. Wolff Wiese Magana LLC lifted its position in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares in the last quarter. MCF Advisors LLC increased its stake in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares during the period. Raleigh Capital Management Inc. increased its stake in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after buying an additional 135 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in Target in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the topic of several research reports. Truist Financial upped their price objective 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. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Guggenheim upped their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $158.57.

Target Price Performance

Shares of Target stock opened at $137.99 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The firm has a fifty day moving average price of $134.66 and a two-hundred day moving average price of $144.89. The company has a market cap of $63.23 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period last year, the company earned $2.10 earnings per share. Target’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Target Co. will post 8.68 EPS for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, February 12th. Target’s payout ratio is 47.51%.

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.