Forum Financial Management LP Boosts Stock Position in Target Co. (NYSE:TGT)

Forum Financial Management LP increased its stake in Target Co. (NYSE:TGT - Free Report) by 97.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,939 shares of the retailer's stock after acquiring an additional 2,933 shares during the quarter. Forum Financial Management LP's holdings in Target were worth $803,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in shares of Target in the fourth quarter valued at $29,000. Bernard Wealth Management Corp. bought a new stake in shares of Target in the 4th quarter worth $30,000. MCF Advisors LLC lifted its position in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC grew its position in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGT has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of Target from $130.00 to $120.00 and set a "hold" rating for the company in a report on Thursday, March 20th. The Goldman Sachs Group lowered Target from a "buy" rating to a "neutral" rating and lowered their target price for the company from $142.00 to $101.00 in a research note on Wednesday, April 16th. Piper Sandler cut their price target on Target from $132.00 to $124.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. StockNews.com cut Target from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Cfra Research lowered shares of Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $132.37.

Target Price Performance

Shares of NYSE:TGT traded up $2.53 during trading on Thursday, reaching $94.68. 2,995,022 shares of the company's stock traded hands, compared to its average volume of 5,661,342. The firm has a market cap of $43.13 billion, a PE ratio of 10.03, a P/E/G ratio of 1.94 and a beta of 1.28. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a 50-day simple moving average of $106.90 and a 200-day simple moving average of $128.68.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, May 14th. Target's dividend payout ratio 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.