Miracle Mile Advisors LLC Has $458,000 Stake in Target Co. (NYSE:TGT)

Miracle Mile Advisors LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 112.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,387 shares of the retailer’s stock after acquiring an additional 1,790 shares during the period. Miracle Mile Advisors LLC’s holdings in Target were worth $458,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in Target by 8.3% during the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Target by 9,940.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after buying an additional 1,981,458 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after buying an additional 1,502,200 shares during the period. FMR LLC increased its stake in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after acquiring an additional 768,479 shares during the period. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Piper Sandler reduced their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. BMO Capital Markets reduced their target price on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. Melius Research initiated coverage on Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. TD Cowen reduced their price objective on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Finally, Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $160.57.

Target Price Performance

TGT opened at $134.58 on Thursday. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The firm has a 50-day moving average of $137.06 and a 200 day moving average of $145.39. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a market cap of $61.67 billion, a P/E ratio of 14.27, a PEG ratio of 2.21 and a beta of 1.16.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company 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 company earned $2.10 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. On average, research analysts expect that Target Co. will post 8.6 EPS for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 3.33%. Target’s dividend payout ratio is presently 47.51%.

Target 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.