Fagan Associates Inc. cut its stake in shares of Target Co. (NYSE:TGT) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,285 shares of the retailer’s stock after selling 1,765 shares during the quarter. Fagan Associates Inc.’s holdings in Target were worth $680,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Eukles Asset Management acquired a new position in Target during the fourth quarter valued at $33,000. We Are One Seven LLC acquired a new position in Target during the fourth quarter valued at $36,000. Clean Yield Group acquired a new position in Target during the fourth quarter valued at $44,000. First Command Bank lifted its position in Target by 53.3% during the fourth quarter. First Command Bank now owns 768 shares of the retailer’s stock valued at $51,000 after purchasing an additional 267 shares during the period. Finally, First Command Financial Services Inc. lifted its position in Target by 53.3% during the fourth quarter. First Command Financial Services Inc. now owns 768 shares of the retailer’s stock valued at $51,000 after purchasing an additional 267 shares during the period. 83.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the stock. Tigress Financial restated a “buy” rating on shares of Target in a research report on Thursday, January 17th. Telsey Advisory Group restated an “outperform” rating and set a $86.00 target price (down from $100.00) on shares of Target in a research report on Monday, January 7th. Standpoint Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $62.30 target price for the company in a research report on Wednesday, December 26th. Citigroup decreased their target price on shares of Target from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, December 3rd. Finally, Zacks Investment Research downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. One 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. Target has a consensus rating of “Hold” and a consensus price target of $86.92.
Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, November 20th. The retailer reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.02). Target had a return on equity of 25.02% and a net margin of 4.31%. The company had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts expect that Target Co. will post 5.39 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 10th. Investors of record on Wednesday, February 20th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, February 19th. This represents a $2.56 annualized dividend and a yield of 3.61%. Target’s dividend payout ratio is presently 54.35%.
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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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