Summit Investment Advisors Inc. Increases Stock Holdings in Target Co. (NYSE:TGT)

Summit Investment Advisors Inc. increased its holdings in Target Co. (NYSE:TGT - Free Report) by 184.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,365 shares of the retailer's stock after buying an additional 22,912 shares during the period. Summit Investment Advisors Inc.'s holdings in Target were worth $4,781,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Bank of America cut their price target on shares of Target from $160.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. KGI Securities set a $132.00 price target on Target in a research note on Wednesday, March 5th. Baird R W downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Truist Financial lowered their target price on shares of Target from $124.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer cut their price target on shares of Target from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $132.37.

Target Price Performance

NYSE:TGT traded up $2.67 during trading hours on Thursday, reaching $93.13. 5,347,533 shares of the company were exchanged, compared to its average volume of 5,590,927. The stock's 50-day moving average is $110.53 and its 200-day moving average is $130.71. Target Co. has a twelve month low of $87.35 and a twelve month high of $169.09. The firm has a market cap of $42.43 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

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

Target Announces Dividend

The firm also recently announced 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Wednesday, May 14th. Target's dividend payout ratio (DPR) is 50.56%.

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.