Smead Capital Management Inc. Has $164.19 Million Stock Position in Target Corporation $TGT

Smead Capital Management Inc. cut its stake in shares of Target Corporation (NYSE:TGT) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,830,431 shares of the retailer’s stock after selling 142,682 shares during the period. Target accounts for about 3.2% of Smead Capital Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Smead Capital Management Inc.’s holdings in Target were worth $164,190,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Raiffeisen Bank International AG raised its stake in shares of Target by 90.0% during the 3rd quarter. Raiffeisen Bank International AG now owns 11,586 shares of the retailer’s stock worth $1,029,000 after purchasing an additional 5,487 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Target by 26.7% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,810 shares of the retailer’s stock worth $252,000 after buying an additional 593 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Target by 10.2% during the third quarter. Bridgewater Advisors Inc. now owns 2,451 shares of the retailer’s stock worth $219,000 after acquiring an additional 227 shares in the last quarter. NewEdge Wealth LLC raised its position in Target by 54.2% during the third quarter. NewEdge Wealth LLC now owns 14,746 shares of the retailer’s stock worth $1,356,000 after acquiring an additional 5,184 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its stake in Target by 22.5% in the third quarter. Alberta Investment Management Corp now owns 56,600 shares of the retailer’s stock valued at $5,077,000 after acquiring an additional 10,400 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TGT has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a research note on Wednesday, January 21st. Truist Financial lifted their price target on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. BMO Capital Markets dropped their price objective on Target from $95.00 to $90.00 and set a “market perform” rating on the stock in a research note on Thursday, November 20th. Bank of America cut their price objective on Target from $93.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. Finally, TD Cowen decreased their target price on Target from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, November 20th. Ten analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $104.45.

Target Price Performance

Target stock opened at $116.62 on Friday. The company has a market capitalization of $52.81 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 11.82 and a beta of 1.14. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. Target Corporation has a 12 month low of $83.44 and a 12 month high of $127.89. The stock’s 50 day moving average is $106.09 and its 200-day moving average is $97.48.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The business had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. During the same period last year, the firm posted $1.85 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. Target’s dividend payout ratio (DPR) is currently 55.34%.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.