Allegheny Financial Group LTD Acquires New Shares in Target Co. (NYSE:TGT)

Allegheny Financial Group LTD acquired a new stake in shares of Target Co. (NYSE:TGT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,174 shares of the retailer’s stock, valued at approximately $208,000.

Several other institutional investors also recently modified their holdings of TGT. Vanguard Group Inc. lifted its holdings in Target by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock valued at $6,401,142,000 after acquiring an additional 417,818 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Target by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock worth $1,447,538,000 after buying an additional 868,274 shares during the period. Franklin Resources Inc. raised its stake in shares of Target by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock worth $1,357,525,000 after buying an additional 137,180 shares during the period. Norges Bank bought a new position in shares of Target in the fourth quarter worth about $759,810,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Target by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,873,399 shares of the retailer’s stock worth $409,230,000 after buying an additional 125,489 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on TGT shares. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 target price on shares of Target in a research note on Wednesday, May 22nd. Morgan Stanley decreased their target price on Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Truist Financial decreased their target price on Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Piper Sandler started coverage on Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Target has an average rating of “Moderate Buy” and a consensus target price of $176.57.

Target Stock Down 0.5 %

NYSE TGT traded down $0.75 on Monday, reaching $152.10. 1,561,558 shares of the stock traded hands, compared to its average volume of 3,894,936. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The company has a fifty day moving average price of $149.92 and a 200-day moving average price of $153.86. The company has a market cap of $70.37 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.44 and a beta of 1.19. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The firm had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.05 earnings per share. As a group, research analysts forecast that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.95%. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s payout ratio is presently 49.38%.

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.