Cornerstone Select Advisors LLC Takes Position in Target Co. (NYSE:TGT)

Cornerstone Select Advisors LLC bought a new stake in Target Co. (NYSE:TGT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 4,576 shares of the retailer’s stock, valued at approximately $619,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TGT. Bernard Wealth Management Corp. acquired a new position in Target in the fourth quarter valued at $30,000. Hopwood Financial Services Inc. acquired a new position in Target in the 4th quarter valued at about $29,000. MCF Advisors LLC raised its stake in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after acquiring an additional 163 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC grew its stake in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 0.3 %

Shares of NYSE:TGT opened at $93.69 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $42.57 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.94 and a beta of 1.27. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40. The stock’s fifty day simple moving average is $101.33 and its 200-day simple moving average is $124.74.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.78%. Target’s payout ratio is currently 50.56%.

Wall Street Analyst Weigh In

TGT has been the subject of several analyst reports. Robert W. Baird cut Target from an “outperform” rating to a “neutral” rating and set a $110.00 price target for the company. in a research note on Monday, April 7th. DA Davidson reduced their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Mizuho started coverage on shares of Target in a research note on Friday, April 11th. They set a “neutral” rating and a $92.00 price target on the stock. Jefferies Financial Group cut their price target on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, StockNews.com lowered Target from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $132.37.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.