Modera Wealth Management LLC decreased its position in shares of Target Corporation (NYSE:TGT – Free Report) by 4.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 112,069 shares of the retailer’s stock after selling 5,482 shares during the quarter. Modera Wealth Management LLC’s holdings in Target were worth $13,583,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Target in the 4th quarter valued at about $587,903,000. TOMS Capital Investment Management LP acquired a new position in Target during the 4th quarter valued at about $257,571,000. AQR Capital Management LLC grew its position in Target by 243.8% in the 4th quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock worth $280,563,000 after purchasing an additional 2,035,298 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Target by 6,639.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock worth $186,992,000 after purchasing an additional 1,884,577 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Target by 104.7% in the fourth quarter. Marshall Wace LLP now owns 65,505 shares of the retailer’s stock valued at $6,403,000 after purchasing an additional 1,448,146 shares during the period. Institutional investors own 79.73% of the company’s stock.
Target Stock Down 0.2%
TGT stock opened at $139.93 on Friday. Target Corporation has a 52 week low of $83.44 and a 52 week high of $144.40. The company has a market capitalization of $63.55 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98. The firm’s 50-day moving average is $129.35 and its two-hundred day moving average is $120.43. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87.
Target Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target’s payout ratio is currently 60.24%.
Wall Street Analyst Weigh In
TGT has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Target in a report on Monday, May 4th. DA Davidson increased their price objective on Target from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Roth Capital restated a “neutral” rating and issued a $114.00 target price on shares of Target in a research report on Friday, May 22nd. Wolfe Research raised Target from a “peer perform” rating to an “outperform” rating and set a $162.00 target price on the stock in a research note on Tuesday, June 23rd. Finally, KeyCorp reiterated a “sector weight” rating on shares of Target in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.96.
Read Our Latest Research Report on TGT
Insiders Place Their Bets
In other Target news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the sale, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.
About Target
Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.
Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.
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