Wedbush Securities Inc. Has $2.91 Million Stock Holdings in Target Co. (NYSE:TGT)

Wedbush Securities Inc. boosted its position in shares of Target Co. (NYSE:TGT) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,535 shares of the retailer’s stock after purchasing an additional 1,492 shares during the quarter. Wedbush Securities Inc.’s holdings in Target were worth $2,911,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TGT. Royal London Asset Management Ltd. increased its position in shares of Target by 3.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 193,933 shares of the retailer’s stock valued at $30,226,000 after buying an additional 6,037 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Target during the third quarter worth about $378,000. Voya Financial Advisors Inc. lifted its holdings in shares of Target by 13.1% during the 3rd quarter. Voya Financial Advisors Inc. now owns 2,264 shares of the retailer’s stock valued at $351,000 after purchasing an additional 263 shares in the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Target by 75.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 146,995 shares of the retailer’s stock valued at $21,725,000 after purchasing an additional 62,978 shares during the period. Finally, Insigneo Advisory Services LLC increased its stake in Target by 7.1% during the 3rd quarter. Insigneo Advisory Services LLC now owns 9,692 shares of the retailer’s stock worth $1,511,000 after purchasing an additional 642 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT opened at $95.70 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business has a fifty day simple moving average of $119.41 and a 200 day simple moving average of $134.73. Target Co. has a 1 year low of $90.62 and a 1 year high of $173.05. The company has a market capitalization of $43.60 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Research analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.68%. Target’s payout ratio is 50.56%.

Analyst Ratings Changes

A number of research analysts have weighed in on TGT shares. Guggenheim lifted their price target on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group reduced their target price on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. Evercore ISI reduced their price objective on Target from $130.00 to $120.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Finally, Piper Sandler cut their target price on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $140.24.

About Target

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.