Sugarloaf Wealth Management LLC purchased a new stake in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,529 shares of the retailer’s stock, valued at approximately $581,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Target by 58.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,190,753 shares of the retailer’s stock valued at $341,124,000 after purchasing an additional 1,179,072 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Target by 3.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,166,504 shares of the retailer’s stock valued at $231,621,000 after purchasing an additional 79,400 shares during the period. California Public Employees Retirement System grew its stake in shares of Target by 13.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,231,447 shares of the retailer’s stock valued at $131,654,000 after purchasing an additional 145,935 shares during the period. Man Group plc grew its stake in shares of Target by 113.2% during the 3rd quarter. Man Group plc now owns 1,040,719 shares of the retailer’s stock valued at $111,263,000 after purchasing an additional 552,639 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Target by 2.4% during the 3rd quarter. Rhumbline Advisers now owns 957,762 shares of the retailer’s stock valued at $102,394,000 after purchasing an additional 22,165 shares during the period. Institutional investors and hedge funds own 76.88% of the company’s stock.
A number of equities research analysts have issued reports on TGT shares. Evercore ISI assumed coverage on Target in a research note on Wednesday, November 20th. They set a “hold” rating for the company. Telsey Advisory Group boosted their price objective on Target from $120.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. ValuEngine downgraded Target from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Goldman Sachs Group downgraded Target from a “conviction-buy” rating to a “buy” rating and set a $110.00 price objective for the company. in a research note on Friday, October 25th. Finally, Guggenheim reiterated a “hold” rating on shares of Target in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Target presently has a consensus rating of “Buy” and an average target price of $120.14.
In other news, insider Stephanie A. Lundquist sold 6,630 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $127.00, for a total transaction of $842,010.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Don H. Liu sold 2,274 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $122.20, for a total value of $277,882.80. Following the sale, the insider now directly owns 37,616 shares in the company, valued at $4,596,675.20. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
TGT stock traded down $3.97 during midday trading on Friday, hitting $110.70. The company’s stock had a trading volume of 494,221 shares, compared to its average volume of 6,115,992. Target Co. has a 12 month low of $69.07 and a 12 month high of $130.24. The company has a quick ratio of 0.15, a current ratio of 0.83 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $58.11 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. The company has a 50 day moving average of $123.22 and a two-hundred day moving average of $109.65.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.17. Target had a return on equity of 28.22% and a net margin of 4.18%. The business had revenue of $18.41 billion during the quarter, compared to the consensus estimate of $18.45 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Target Co. will post 6.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.64 annualized dividend and a dividend yield of 2.38%. Target’s dividend payout ratio (DPR) is 48.98%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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