Raymond James & Associates trimmed its holdings in Target Co. (NYSE:TGT) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,059,856 shares of the retailer’s stock after selling 12,667 shares during the period. Raymond James & Associates owned 0.19% of Target worth $69,156,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of TGT. Raymond James Financial Services Advisors Inc. lifted its stake in shares of 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 in the last quarter. Principal Financial Group Inc. lifted its stake in shares of 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 in the last quarter. Alps Advisors Inc. lifted its stake in shares of 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 in the last quarter. Sei Investments Co. lifted its stake in shares of Target by 18.7% in the 3rd quarter. Sei Investments Co. now owns 232,168 shares of the retailer’s stock valued at $13,701,000 after purchasing an additional 36,582 shares in the last quarter. Finally, BTC Capital Management Inc. acquired a new position in shares of Target in the 3rd quarter valued at about $212,000. 87.02% of the stock is currently owned by hedge funds and other institutional investors.
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 P/E/G ratio of 2.98 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. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $2.48 annualized dividend and a yield of 3.48%. Target’s dividend payout ratio is presently 46.36%.
In other Target news, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the sale, the insider now owns 13,288 shares in the company, valued at $1,019,721.12. 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 90 days. 0.20% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on TGT shares. Vetr lowered Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price objective on the stock. in a research note on Monday, November 20th. Deutsche Bank raised Target from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Morgan Stanley reduced their price objective on Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Thursday, November 16th. Barclays set a $45.00 price objective on Target and gave the company a “sell” rating in a research note on Wednesday, November 15th. Finally, MKM Partners set a $77.00 price objective on Target and gave the company a “buy” rating in a research note on Thursday, December 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $73.97.
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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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