HBK Sorce Advisory LLC acquired a new stake in Target Co. (NYSE:TGT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,351 shares of the retailer’s stock, valued at approximately $806,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. TIAA CREF Investment Management LLC lifted its stake in shares of Target by 85.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,299,194 shares of the retailer’s stock valued at $215,272,000 after purchasing an additional 1,515,618 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Target by 49.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,186,874 shares of the retailer’s stock valued at $188,052,000 after buying an additional 1,058,000 shares during the period. Teachers Advisors LLC raised its holdings in shares of Target by 101.8% during the 4th quarter. Teachers Advisors LLC now owns 1,879,844 shares of the retailer’s stock valued at $122,660,000 after buying an additional 948,075 shares during the period. Hamlin Capital Management LLC purchased a new stake in shares of Target during the 4th quarter valued at about $60,860,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Target by 9.4% during the 4th quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock valued at $695,229,000 after buying an additional 916,178 shares during the period. 87.02% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Robert M. Harrison sold 8,557 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the sale, the insider now directly owns 13,288 shares in the company, valued at approximately $1,019,721.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total value of $234,240.00. Following the completion of the sale, the insider now owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Shares of Target Co. (TGT) opened at $70.99 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.30 and a debt-to-equity ratio of 0.97. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70. The stock has a market capitalization of $38,392.54, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71.
Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 6th. The retailer reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). Target had a return on equity of 23.04% and a net margin of 4.08%. The business had revenue of $22.77 billion for the quarter, compared to analysts’ expectations of $22.56 billion. During the same quarter in the prior year, the firm earned $1.45 earnings per share. Target’s revenue for the quarter was up 10.0% compared to the same quarter last year. equities analysts anticipate that Target Co. will post 5.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Wednesday, May 16th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.49%. Target’s dividend payout ratio (DPR) is 46.36%.
TGT has been the topic of several analyst reports. ValuEngine upgraded Target from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Moffett Nathanson initiated coverage on Target in a report on Monday, December 4th. They set a “neutral” rating on the stock. Vetr downgraded Target from a “hold” rating to a “sell” rating and set a $73.66 target price on the stock. in a report on Thursday, February 15th. Stifel Nicolaus reiterated a “hold” rating and set a $75.00 target price on shares of Target in a report on Thursday, January 11th. Finally, Telsey Advisory Group raised their target price on Target from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. Target currently has a consensus rating of “Hold” and an average price target of $73.97.
TRADEMARK VIOLATION WARNING: This piece of content was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/03/17/12351-shares-in-target-co-tgt-acquired-by-hbk-sorce-advisory-llc.html.
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.
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.