Capital Investment Advisory Services LLC increased its stake in Target Co. (NYSE:TGT) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,044 shares of the retailer’s stock after purchasing an additional 1,283 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Target were worth $333,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of TGT. AQR Capital Management LLC lifted its holdings in Target by 114.5% in the third quarter. AQR Capital Management LLC now owns 10,474,816 shares of the retailer’s stock worth $923,984,000 after purchasing an additional 5,590,395 shares during the period. Bank of Montreal Can lifted its holdings in Target by 61.8% in the fourth quarter. Bank of Montreal Can now owns 2,304,536 shares of the retailer’s stock worth $152,306,000 after purchasing an additional 880,424 shares during the period. OppenheimerFunds Inc. lifted its holdings in Target by 61.7% in the third quarter. OppenheimerFunds Inc. now owns 2,025,519 shares of the retailer’s stock worth $178,671,000 after purchasing an additional 773,180 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Target by 54.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,028,126 shares of the retailer’s stock worth $178,899,000 after purchasing an additional 717,588 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Target by 17.2% in the third quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock worth $403,145,000 after purchasing an additional 671,121 shares during the period. 83.24% of the stock is owned by institutional investors and hedge funds.
TGT has been the subject of several research analyst reports. Cowen raised shares of Target from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Wednesday, November 7th. Buckingham Research initiated coverage on shares of Target in a report on Thursday, November 15th. They issued a “buy” rating and a $102.00 price objective for the company. KeyCorp initiated coverage on shares of Target in a report on Friday, November 16th. They issued an “overweight” rating and a $110.00 price objective for the company. ValuEngine downgraded shares of Target from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, BMO Capital Markets set a $70.00 price target on shares of Target and gave the company a “hold” rating in a report on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.92.
Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, November 20th. The retailer reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.02). Target had a return on equity of 25.02% and a net margin of 4.31%. The firm had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that Target Co. will post 5.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 20th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, February 19th. This represents a $2.56 dividend on an annualized basis and a yield of 3.61%. Target’s payout ratio is currently 54.35%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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