Teachers Insurance & Annuity Association of America purchased a new position in shares of Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,000 shares of the retailer’s stock, valued at approximately $5,090,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bedell Frazier Investment Counseling LLC purchased a new stake in Target during the 3rd quarter worth about $219,000. Security Asset Management purchased a new stake in Target during the 4th quarter worth about $115,000. Heritage Trust Co increased its holdings 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 last quarter. First Mercantile Trust Co. purchased a new position in shares of Target in the 4th quarter valued at about $124,000. Finally, SevenBridge Financial Group LLC increased its holdings 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 last quarter. Institutional investors own 87.02% of the company’s stock.
Shares of Target Co. (TGT) opened at $70.49 on Monday. Target Co. has a 1 year low of $48.56 and a 1 year high of $78.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95. The firm has a market capitalization of $38,316.44, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 3.14 and a beta of 0.71.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.62 per share. The ex-dividend date was Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a yield of 3.52%. Target’s payout ratio is 46.36%.
A number of research firms have recently commented on TGT. ValuEngine upgraded Target from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Barclays set a $45.00 price objective on Target and gave the company a “sell” rating in a report on Wednesday, November 15th. Vetr downgraded Target from a “strong-buy” rating to a “buy” rating and set a $66.10 price objective on the stock. in a report on Wednesday, November 29th. Telsey Advisory Group dropped their price objective on Target from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, November 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of Target in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $73.97.
In other Target news, insider Robert M. Harrison sold 8,557 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total transaction of $656,664.18. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were 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 directly owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The disclosure for this sale can be found here. Insiders have sold a total of 16,262 shares of company stock valued at $1,185,484 over the last ninety days. 0.20% of the stock is owned by insiders.
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Target Company Profile
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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