Advent Capital Management DE Invests $2.03 Million in Target Co. (NYSE:TGT)

Advent Capital Management DE bought a new position in shares of Target Co. (NYSE:TGT - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,000 shares of the retailer's stock, valued at approximately $2,028,000.

Several other large investors also recently modified their holdings of TGT. Norges Bank acquired a new stake in Target during the 4th quarter worth approximately $757,892,000. Raymond James Financial Inc. bought a new position in Target in the 4th quarter valued at about $297,122,000. FMR LLC boosted its holdings in shares of Target by 13.6% during the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after acquiring an additional 1,358,348 shares during the period. Phoenix Financial Ltd. increased its stake in shares of Target by 8,114.3% during the fourth quarter. Phoenix Financial Ltd. now owns 728,934 shares of the retailer's stock worth $98,538,000 after purchasing an additional 720,060 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in Target by 23,464.9% during the 4th quarter. Proficio Capital Partners LLC now owns 605,618 shares of the retailer's stock worth $81,867,000 after purchasing an additional 603,048 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial reduced their price target on Target from $124.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird cut Target from an "outperform" rating to a "neutral" rating and set a $110.00 price target on the stock. in a report on Monday, April 7th. Baird R W downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Guggenheim upped their price objective on shares of Target from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Finally, KGI Securities set a $132.00 price objective on Target in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $132.37.

Target Stock Up 2.9 %

Shares of NYSE:TGT traded up $2.67 during midday trading on Friday, reaching $93.13. The company's stock had a trading volume of 5,347,533 shares, compared to its average volume of 5,608,183. Target Co. has a 12-month low of $87.35 and a 12-month high of $169.09. The firm has a 50 day moving average of $109.77 and a 200-day moving average of $130.28. The firm has a market capitalization of $42.43 billion, a P/E ratio of 9.88, a PEG ratio of 1.94 and a beta of 1.28. 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 (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. On average, research analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.81%. Target's dividend payout ratio (DPR) is presently 50.56%.

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.