Raiffeisen Bank International AG Increases Stake in Target Corporation $TGT

Raiffeisen Bank International AG boosted its holdings in shares of Target Corporation (NYSE:TGT) by 90.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,586 shares of the retailer’s stock after buying an additional 5,487 shares during the quarter. Raiffeisen Bank International AG’s holdings in Target were worth $1,029,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TGT. WFA of San Diego LLC acquired a new stake in shares of Target in the second quarter valued at $25,000. Heartwood Wealth Advisors LLC purchased a new stake in Target during the 3rd quarter worth about $27,000. Tripletail Wealth Management LLC acquired a new stake in Target in the 3rd quarter valued at about $31,000. Key Financial Inc boosted its stake in shares of Target by 77.4% in the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer’s stock valued at $31,000 after buying an additional 151 shares during the period. Finally, VSM Wealth Advisory LLC boosted its stake in shares of Target by 1,113.8% in the 2nd quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock valued at $35,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TGT. Piper Sandler restated a “neutral” rating and set a $85.00 target price (down from $94.00) on shares of Target in a research note on Thursday, November 20th. Roth Mkm set a $88.00 price objective on shares of Target in a research report on Thursday, November 20th. Morgan Stanley restated an “overweight” rating and issued a $125.00 price objective on shares of Target in a report on Thursday, January 15th. Royal Bank Of Canada lowered their target price on shares of Target from $107.00 to $99.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Finally, Robert W. Baird dropped their target price on Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. Ten analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.45.

Target Trading Up 0.8%

NYSE TGT opened at $116.62 on Monday. The firm’s fifty day moving average price is $106.09 and its 200 day moving average price is $97.39. Target Corporation has a 12 month low of $83.44 and a 12 month high of $127.89. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. The company has a market capitalization of $52.81 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 11.93 and a beta of 1.14.

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 given a dividend of $1.14 per share. The ex-dividend date is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. Target’s payout ratio is 55.34%.

About Target

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.