Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Position in Target Co. (NYSE:TGT)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Target Co. (NYSE:TGT) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,386 shares of the retailer’s stock after acquiring an additional 440 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Target were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TGT. Cynosure Group LLC grew its stake in Target by 4.3% in the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after purchasing an additional 65 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares in the last quarter. Hancock Whitney Corp grew its position in shares of Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after buying an additional 68 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Target by 0.4% during the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after acquiring an additional 69 shares in the last quarter. Finally, Eagle Bluffs Wealth Management LLC lifted its position in Target by 1.1% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock valued at $1,063,000 after acquiring an additional 73 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Target stock opened at $140.28 on Thursday. The stock has a market capitalization of $64.28 billion, a P/E ratio of 14.88, a P/E/G ratio of 2.21 and a beta of 1.16. The company’s fifty day moving average price is $133.80 and its 200 day moving average price is $144.64. 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 1 year low of $120.21 and a 1 year high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter last year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts anticipate that Target Co. will post 8.68 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Wednesday, February 12th. Target’s payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TGT shares. TD Cowen cut their price target on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Roth Mkm dropped their target price on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. decreased their price target on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Oppenheimer restated an “outperform” rating and set a $165.00 price target on shares of Target in a research note on Monday, November 25th. Finally, Piper Sandler decreased their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $157.70.

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.