Profund Advisors LLC raised its stake in Target Co. (NYSE:TGT) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,139 shares of the retailer’s stock after purchasing an additional 3,317 shares during the period. Profund Advisors LLC’s holdings in Target were worth $1,184,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of TGT. Raymond James Financial Services Advisors Inc. boosted its holdings in Target by 25.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 236,469 shares of the retailer’s stock valued at $13,954,000 after purchasing an additional 47,705 shares during the period. Principal Financial Group Inc. boosted its holdings in Target by 15.5% in the 3rd quarter. Principal Financial Group Inc. now owns 925,877 shares of the retailer’s stock valued at $54,636,000 after purchasing an additional 124,409 shares during the period. Alps Advisors Inc. boosted its holdings in Target by 44.1% in the 3rd quarter. Alps Advisors Inc. now owns 12,845 shares of the retailer’s stock valued at $758,000 after purchasing an additional 3,934 shares during the period. Sei Investments Co. lifted its holdings in shares of Target by 18.7% during the 3rd quarter. Sei Investments Co. now owns 232,168 shares of the retailer’s stock worth $13,701,000 after acquiring an additional 36,582 shares during the period. Finally, BTC Capital Management Inc. bought a new position in shares of Target during the 3rd quarter worth about $212,000. 87.02% of the stock is owned by hedge funds and other institutional investors.
Target Co. (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 cap of $38,690.00, a PE ratio of 15.40, a P/E/G ratio of 3.14 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.30 and a debt-to-equity ratio of 0.97.
The company also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Wednesday, February 21st were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Tuesday, February 20th. Target’s dividend payout ratio is currently 53.68%.
A number of equities analysts have recently commented on TGT shares. Zacks Investment Research raised shares of Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a report on Saturday, January 20th. Robert W. Baird reaffirmed a “hold” rating and set a $70.00 price objective on shares of Target in a report on Wednesday, January 3rd. MKM Partners set a $77.00 price objective on shares of Target and gave the stock a “buy” rating in a report on Thursday, December 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 price objective (up from $65.00) on shares of Target in a report on Wednesday, January 10th. Finally, Morgan Stanley reduced their price objective on shares of Target from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $73.97.
In other Target news, insider Robert M. Harrison sold 8,557 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the sale, the insider now owns 13,288 shares in the company, valued at approximately $1,019,721.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 4,705 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were 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 valued at $1,185,484 over the last three months. 0.20% of the stock is currently owned by insiders.
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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