Public Sector Pension Investment Board Sells 59,976 Shares of Target Corporation $TGT

Public Sector Pension Investment Board reduced its stake in shares of Target Corporation (NYSE:TGT) by 60.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,279 shares of the retailer’s stock after selling 59,976 shares during the quarter. Public Sector Pension Investment Board’s holdings in Target were worth $3,523,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. WFA of San Diego LLC bought a new position in Target during the 2nd quarter valued at about $25,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Target during the third quarter worth approximately $27,000. Tripletail Wealth Management LLC bought a new position in shares of Target in the third quarter valued at approximately $31,000. Key Financial Inc boosted its holdings in shares of Target by 77.4% in the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer’s stock worth $31,000 after acquiring an additional 151 shares in the last quarter. Finally, VSM Wealth Advisory LLC grew its position in Target by 1,113.8% during the 2nd quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock worth $35,000 after acquiring an additional 323 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.8%

Shares of NYSE TGT opened at $116.62 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $127.89. The firm’s 50-day moving average is $106.09 and its 200-day moving average is $97.48. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $52.81 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 11.82 and a beta of 1.14.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The business had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same period in the previous year, the firm posted $1.85 earnings per share. Target’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. Target’s dividend payout ratio is 55.34%.

Analysts Set New Price Targets

Several equities analysts have issued reports on TGT shares. Morgan Stanley reiterated an “overweight” rating and issued a $125.00 price objective on shares of Target in a research report on Thursday, January 15th. Piper Sandler restated a “neutral” rating and set a $85.00 target price (down previously from $94.00) on shares of Target in a report on Thursday, November 20th. Guggenheim lifted their price target on Target from $110.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research report on Wednesday, January 21st. Finally, Mizuho dropped their target price on shares of Target from $94.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Ten research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.45.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.