Naples Global Advisors LLC increased its stake in shares of Target Co. (NYSE:TGT) by 53.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,930 shares of the retailer’s stock after purchasing an additional 4,850 shares during the quarter. Naples Global Advisors LLC’s holdings in Target were worth $909,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of TGT. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Target by 16.2% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 84,473 shares of the retailer’s stock worth $4,417,000 after purchasing an additional 11,770 shares during the period. State of Tennessee Treasury Department raised its position in Target by 7.0% in the second quarter. State of Tennessee Treasury Department now owns 440,899 shares of the retailer’s stock worth $23,056,000 after acquiring an additional 28,895 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in Target by 31.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 189,833 shares of the retailer’s stock worth $9,926,000 after acquiring an additional 45,536 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its position in Target by 3.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 18,103 shares of the retailer’s stock worth $947,000 after acquiring an additional 658 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY raised its position in Target by 4.2% in the second quarter. Matrix Asset Advisors Inc. NY now owns 93,741 shares of the retailer’s stock worth $4,902,000 after acquiring an additional 3,760 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.
TGT has been the subject of several research analyst reports. Moffett Nathanson initiated coverage on Target in a research report on Monday, December 4th. They issued a “neutral” rating for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of Target in a research report on Thursday, January 11th. Telsey Advisory Group increased their price objective on Target from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Vetr cut Target from a “hold” rating to a “sell” rating and set a $70.45 price objective for the company. in a research report on Thursday, January 11th. Finally, Wells Fargo & Co initiated coverage on Target in a research report on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price objective for the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $67.64.
Shares of Target Co. (NYSE:TGT) traded up $1.34 during mid-day trading on Friday, hitting $72.45. The stock had a trading volume of 7,730,000 shares, compared to its average volume of 7,600,000. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $39,380.00, a PE ratio of 15.22, a P/E/G ratio of 3.42 and a beta of 0.75. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The business had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. analysts forecast that Target Co. will post 4.72 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be issued a $0.62 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 annualized dividend and a dividend yield of 3.42%. Target’s dividend payout ratio (DPR) is 52.10%.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the completion of the sale, the insider now owns 16,906 shares in the company, valued at $1,320,020.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,262 shares of company stock valued at $1,185,484. Insiders own 0.25% of the company’s stock.
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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