California State Teachers Retirement System increased its stake in Target Co. (NYSE:TGT) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,008,170 shares of the retailer’s stock after purchasing an additional 5,432 shares during the period. California State Teachers Retirement System owned 0.19% of Target worth $65,783,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Heritage Trust Co lifted 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 worth $105,000 after purchasing an additional 1,000 shares during the last quarter. SevenBridge Financial Group LLC lifted 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 worth $113,000 after purchasing an additional 1,826 shares during the last quarter. Security Asset Management bought a new stake in shares of Target in the 4th quarter worth approximately $115,000. First Mercantile Trust Co. bought a new stake in shares of Target in the 4th quarter worth approximately $124,000. Finally, Independence Bank of Kentucky bought a new stake in shares of Target in the 4th quarter worth approximately $147,000. 87.02% of the stock is currently owned by institutional investors and hedge funds.
Target Co. (NYSE:TGT) opened at $71.17 on Wednesday. Target Co. has a 1 year low of $48.56 and a 1 year high of $78.70. The stock has a market capitalization of $38,690.00, a price-to-earnings ratio of 15.40, a PEG ratio of 3.14 and a beta of 0.71. 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 business also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Wednesday, February 21st were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Tuesday, February 20th. Target’s payout ratio is 53.68%.
TGT has been the topic of several recent research reports. ValuEngine raised Target from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Vetr downgraded Target from a “strong-buy” rating to a “buy” rating and set a $66.10 target price on the stock. in a research note on Wednesday, November 29th. Sanford C. Bernstein set a $65.00 target price on Target and gave the company a “buy” rating in a research note on Thursday, December 14th. MKM Partners set a $77.00 target price on Target and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, Credit Suisse Group assumed coverage on Target in a research note on Monday, March 5th. They set a “buy” rating and a $86.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $73.97.
In related news, insider Stephanie A. Lundquist sold 3,000 shares of Target 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 transaction, the insider now directly owns 16,906 shares in the company, valued at approximately $1,320,020.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction on Friday, December 15th. The stock was 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. Insiders sold a total of 16,262 shares of company stock worth $1,185,484 over the last 90 days. Insiders own 0.20% of the company’s stock.
WARNING: This piece was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/03/14/california-state-teachers-retirement-system-buys-5432-shares-of-target-co-tgt.html.
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.
Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.