NWQ Investment Management Company LLC reduced its position in Target Co. (NYSE:TGT) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 688,936 shares of the retailer’s stock after selling 37,500 shares during the period. NWQ Investment Management Company LLC owned 0.13% of Target worth $44,953,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Heritage Trust Co grew its stake in shares of Target by 129.7% during the third 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 period. SevenBridge Financial Group LLC grew its stake in shares of Target by 2,200.0% during the third 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 period. Security Asset Management acquired a new stake in shares of Target during the fourth quarter worth $115,000. First Mercantile Trust Co. acquired a new stake in shares of Target during the fourth quarter worth $124,000. Finally, Independence Bank of Kentucky acquired a new stake in shares of Target during the fourth quarter worth $147,000. 87.02% of the stock is owned by institutional investors.
A number of brokerages recently commented on TGT. Zacks Investment Research raised Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a research note on Saturday, January 20th. Vetr cut Target from a “hold” rating to a “sell” rating and set a $73.66 price objective for the company. in a research note on Tuesday, February 27th. Citigroup reiterated a “neutral” rating and set a $80.00 target price (down from $86.00) on shares of Target in a report on Friday, February 16th. Credit Suisse Group initiated coverage on Target in a report on Monday, February 26th. They set an “outperform” rating and a $86.00 target price on the stock. Finally, Susquehanna Bancshares set a $95.00 target price on Target and gave the stock a “buy” rating in a report on Monday, March 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.97.
Shares of Target Co. (NYSE TGT) opened at $71.17 on Wednesday. The company has a market capitalization of $38,414.28, a PE ratio of 14.97, a PEG ratio of 2.98 and a beta of 0.71. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70. The company has a quick ratio of 0.30, a current ratio of 0.95 and a debt-to-equity ratio of 0.97.
Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The firm had revenue of $22.77 billion during the quarter, compared to the consensus estimate of $22.56 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 earnings per share. sell-side analysts anticipate that Target Co. will post 5.29 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st were issued a $0.62 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. Target’s dividend payout ratio (DPR) is 46.36%.
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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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