Strive Asset Management LLC Buys New Stake in Target Co. (NYSE:TGT)

Strive Asset Management LLC acquired a new position in Target Co. (NYSE:TGT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,047 shares of the retailer’s stock, valued at approximately $547,000.

A number of other large investors have also modified their holdings of the company. Toronto Dominion Bank raised its position in shares of Target by 26.7% in the fourth quarter. Toronto Dominion Bank now owns 272,658 shares of the retailer’s stock worth $36,858,000 after acquiring an additional 57,505 shares during the period. Salus Financial Advisors LLC acquired a new position in shares of Target in the fourth quarter worth about $233,000. Snowden Capital Advisors LLC raised its position in shares of Target by 22.3% in the fourth quarter. Snowden Capital Advisors LLC now owns 16,666 shares of the retailer’s stock worth $2,253,000 after acquiring an additional 3,041 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of Target by 1.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 557,897 shares of the retailer’s stock worth $75,416,000 after acquiring an additional 9,329 shares during the period. Finally, Rafferty Asset Management LLC raised its position in shares of Target by 11.7% in the fourth quarter. Rafferty Asset Management LLC now owns 43,037 shares of the retailer’s stock worth $5,818,000 after acquiring an additional 4,494 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 1.5%

TGT opened at $98.56 on Friday. The stock has a market capitalization of $44.78 billion, a PE ratio of 10.45, a P/E/G ratio of 1.94 and a beta of 1.27. The firm’s fifty day moving average price is $98.24 and its 200 day moving average price is $121.85. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40.

Target (NYSE:TGT) last released its quarterly 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 business had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. As a group, research analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.55%. Target’s dividend payout ratio is 50.56%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TGT shares. Bank of America decreased their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. StockNews.com cut shares of Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Citigroup reissued a “neutral” rating and set a $97.00 target price (up previously from $95.00) on shares of Target in a research note on Wednesday. KGI Securities set a $132.00 target price on shares of Target in a research note on Wednesday, March 5th. Finally, Oppenheimer cut their target price on shares of Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $128.13.

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.