Wedbush Securities Inc. raised its holdings in shares of Target Co. (NYSE:TGT) by 80.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,034 shares of the retailer’s stock after purchasing an additional 7,605 shares during the period. Wedbush Securities Inc.’s holdings in Target were worth $1,111,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bedell Frazier Investment Counseling LLC acquired a new position in shares of Target during the third quarter worth $219,000. Security Asset Management acquired a new position in shares of Target during the fourth quarter worth $115,000. Heritage Trust Co increased its position in shares of Target by 129.7% in the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after acquiring an additional 1,000 shares during the period. First Mercantile Trust Co. acquired a new position in shares of Target in the 4th quarter valued at $124,000. Finally, SevenBridge Financial Group LLC increased its position in shares of Target by 2,200.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after acquiring an additional 1,826 shares during the period. 88.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Target Co. (TGT) opened at $72.50 on Tuesday. The firm has a market capitalization of $41,150.00, a PE ratio of 15.90, a price-to-earnings-growth ratio of 3.57 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. Target Co. has a 12-month low of $48.56 and a 12-month high of $78.70.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, February 20th. Target’s dividend payout ratio is currently 52.10%.
In other news, insider Robert M. Harrison sold 8,557 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $76.74, for a total transaction of $656,664.18. Following the sale, the insider now directly owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 4,705 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The disclosure for this sale can be found here. Insiders have sold a total of 16,262 shares of company stock worth $1,185,484 over the last ninety days. 0.20% of the stock is owned by insiders.
TGT has been the topic of several research reports. ValuEngine raised Target from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Moffett Nathanson initiated coverage on Target in a research report on Monday, December 4th. They issued a “neutral” rating on the stock. Vetr downgraded Target from a “hold” rating to a “sell” rating and set a $73.66 target price on the stock. in a research report on Thursday, February 15th. Stifel Nicolaus reissued a “hold” rating and issued a $75.00 target price on shares of Target in a research report on Thursday, January 11th. Finally, Telsey Advisory Group upped their target price on Target from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.56.
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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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