Highland Capital Management LLC Makes New $479,000 Investment in Target Co. (NYSE:TGT)

Highland Capital Management LLC has made a new investment of approximately $479,000 in Target Co. (NYSE:TGT), acquiring 3,544 shares during the fourth quarter. Other institutional investors, including Summa Corp and Foster & Motley Inc., have also increased their stakes in Target. The stock opened at $137.82, with a market cap of $63.15 billion. Target recently reported quarterly earnings of $1.85 EPS, missing estimates, and announced a quarterly dividend of $1.12 per share. Analysts have mixed ratings on the stock, with a consensus rating of "Hold."

Highland Capital Management LLC purchased a new stake in Target Co. (NYSE:TGT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,544 shares of the retailer's stock, valued at approximately $479,000.

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Several other hedge funds and other institutional investors have also made changes to their positions in TGT. Summa Corp. boosted its holdings in Target by 83.3% during the fourth quarter. Summa Corp. now owns 3,300 shares of the retailer's stock worth $446,000 after buying an additional 1,500 shares during the last quarter. Foster & Motley Inc. boosted its stake in Target by 41.0% during the 4th quarter. Foster & Motley Inc. now owns 32,474 shares of the retailer's stock worth $4,390,000 after acquiring an additional 9,440 shares during the last quarter. Invesco LLC grew its holdings in Target by 8.2% during the fourth quarter. Invesco LLC now owns 2,196 shares of the retailer's stock valued at $297,000 after purchasing an additional 167 shares during the period. Valicenti Advisory Services Inc. increased its stake in Target by 8.6% in the fourth quarter. Valicenti Advisory Services Inc. now owns 2,525 shares of the retailer's stock valued at $341,000 after purchasing an additional 200 shares in the last quarter. Finally, Strategic Blueprint LLC raised its holdings in Target by 74.6% in the fourth quarter. Strategic Blueprint LLC now owns 2,716 shares of the retailer's stock worth $367,000 after purchasing an additional 1,160 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

TGT opened at $137.82 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The business has a 50 day moving average of $134.54 and a 200-day moving average of $144.58. The stock has a market cap of $63.15 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.28 and a beta of 1.16.

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Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company's revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $2.10 earnings per share. On average, equities research analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.25%. Target's dividend payout ratio (DPR) is presently 47.51%.

Analysts Set New Price Targets

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A number of analysts recently commented on TGT shares. StockNews.com upgraded shares of Target from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Piper Sandler decreased their price objective on Target from $156.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, November 21st. Bank of America dropped their target price on shares of Target from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Oppenheimer reiterated an "outperform" rating and issued a $165.00 price target on shares of Target in a report on Monday, November 25th. Finally, Citigroup raised their price objective on shares of Target from $130.00 to $133.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Target has a consensus rating of "Hold" and a consensus price target of $157.70.

Read Our Latest Stock Analysis on TGT

About Target

(Free Report)

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.

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