IFP Advisors Inc lowered its position in Target Co. (NYSE:TGT) by 18.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,291 shares of the retailer’s stock after selling 4,593 shares during the period. IFP Advisors Inc’s holdings in Target were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TGT. Bedell Frazier Investment Counseling LLC bought a new position in Target in the third quarter worth approximately $219,000. Heritage Trust Co raised its stake in Target by 129.7% in the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after buying an additional 1,000 shares in the last quarter. SevenBridge Financial Group LLC raised its stake in Target by 2,200.0% in the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after buying an additional 1,826 shares in the last quarter. Jacobi Capital Management LLC raised its stake in Target by 109.8% in the third quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock worth $141,000 after buying an additional 1,310 shares in the last quarter. Finally, Cable Hill Partners LLC raised its stake in Target by 848.8% in the third quarter. Cable Hill Partners LLC now owns 2,666 shares of the retailer’s stock worth $157,000 after buying an additional 2,385 shares in the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.
In related news, insider Stephanie A. Lundquist sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares in the company, valued at approximately $1,320,020.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,262 shares of company stock valued at $1,185,484. Insiders own 0.20% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Telsey Advisory Group cut their price target on shares of Target from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, November 16th. Barclays set a $45.00 price target on shares of Target and gave the stock a “sell” rating in a report on Wednesday, November 15th. Vetr lowered shares of Target from a “strong-buy” rating to a “buy” rating and set a $66.10 price objective on the stock. in a report on Wednesday, November 29th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $75.00 price objective on shares of Target in a report on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Target currently has an average rating of “Hold” and a consensus target price of $67.64.
Target Co. (TGT) opened at $71.88 on Tuesday. The firm has a market cap of $39,070.00, a PE ratio of 15.10, a price-to-earnings-growth ratio of 3.42 and a beta of 0.75. Target Co. has a 1 year low of $48.56 and a 1 year high of $78.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts expect that Target Co. will post 4.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 annualized dividend and a dividend yield of 3.45%. Target’s dividend payout ratio (DPR) is presently 52.10%.
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Target Company Profile
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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