Asset Planning Inc Invests $520,000 in Target Co. (NYSE:TGT)

Asset Planning Inc acquired a new position in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,844 shares of the retailer’s stock, valued at approximately $520,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning lifted its holdings in Target by 10.3% during the 3rd quarter. Creative Planning now owns 218,600 shares of the retailer’s stock valued at $32,247,000 after purchasing an additional 20,360 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in Target by 2.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 8,417 shares of the retailer’s stock valued at $1,312,000 after acquiring an additional 226 shares in the last quarter. Vontobel Holding Ltd. increased its position in Target by 12.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 34,210 shares of the retailer’s stock valued at $5,332,000 after acquiring an additional 3,875 shares in the last quarter. Transform Wealth LLC grew its position in shares of Target by 9.8% during the 3rd quarter. Transform Wealth LLC now owns 2,598 shares of the retailer’s stock worth $405,000 after buying an additional 232 shares during the period. Finally, Wolff Wiese Magana LLC grew its position in shares of Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Price Performance

NYSE:TGT opened at $128.72 on Friday. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The firm has a market cap of $58.98 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 2.04 and a beta of 1.15. The firm’s 50-day simple moving average is $135.20 and its 200 day simple moving average is $143.44. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio is 47.51%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and lowered their price target for the stock from $184.00 to $108.00 in a research report on Wednesday, November 20th. Piper Sandler lowered their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Truist Financial upped 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. Finally, Evercore ISI lowered their target price on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $157.70.

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.