Sowell Financial Services LLC Has $1.74 Million Stock Position in Target Co. (NYSE:TGT)

Sowell Financial Services LLC grew its stake in shares of Target Co. (NYSE:TGT) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,854 shares of the retailer’s stock after purchasing an additional 950 shares during the quarter. Sowell Financial Services LLC’s holdings in Target were worth $1,738,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Target during the 3rd quarter worth approximately $28,000. MCF Advisors LLC increased its position in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Target during the 3rd quarter worth approximately $36,000. Finally, OFI Invest Asset Management bought a new position in shares of Target during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Target stock opened at $113.74 on Tuesday. 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 Co. has a 52 week low of $111.84 and a 52 week high of $181.86. The stock has a market capitalization of $52.12 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The stock has a fifty day moving average of $131.63 and a 200-day moving average of $141.07.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. On average, sell-side analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were issued a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.94%. Target’s payout ratio is presently 50.56%.

Analysts Set New Price Targets

TGT has been the subject of several research analyst reports. Bank of America reduced their target price on Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Hsbc Global Res downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial reduced their target price on Target from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Oppenheimer reduced their target price on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Target presently has an average rating of “Hold” and an average price target of $145.87.

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.