Addison Advisors LLC Raises Stock Position in Target Co. (NYSE:TGT)

Addison Advisors LLC lifted its stake in Target Co. (NYSE:TGT) by 17.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,172 shares of the retailer’s stock after buying an additional 172 shares during the period. Addison Advisors LLC’s holdings in Target were worth $167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of Target by 15,009.5% in the 4th 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 during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Target by 37,301.2% in the third quarter. Clearbridge Investments LLC now owns 1,698,764 shares of the retailer’s stock valued at $187,832,000 after acquiring an additional 1,694,222 shares during the period. FMR LLC boosted its holdings in shares of Target by 26.5% in the third quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock valued at $747,699,000 after acquiring an additional 1,415,900 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Target by 56.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,839,156 shares of the retailer’s stock worth $313,925,000 after acquiring an additional 1,022,437 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Target in the 3rd quarter valued at $87,075,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock valued at $8,819,598 over the last 90 days. Insiders own 0.23% of the company’s stock.

Target Price Performance

TGT traded up $0.30 during midday trading on Friday, reaching $164.74. 2,085,518 shares of the company’s stock were exchanged, compared to its average volume of 2,821,609. The business’s 50-day moving average price is $165.52 and its 200 day moving average price is $143.02. The stock has a market capitalization of $76.06 billion, a PE ratio of 18.44, a P/E/G ratio of 1.54 and a beta of 1.14. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. Target’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, equities analysts anticipate that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.67%. Target’s dividend payout ratio is currently 49.27%.

Analyst Ratings Changes

Several brokerages have issued reports on TGT. Guggenheim raised their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Morgan Stanley raised their price target on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Truist Financial upped their price objective on Target from $142.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. DA Davidson lifted their target price on Target from $167.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Target from a “hold” rating to a “buy” rating and boosted their price objective for the company from $149.00 to $206.00 in a research note on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Target presently has an average rating of “Moderate Buy” and an average target price of $181.85.

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.