Welch & Forbes LLC cut its stake in shares of Target Co. (NYSE:TGT) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,916 shares of the retailer’s stock after selling 287 shares during the quarter. Welch & Forbes LLC’s holdings in Target were worth $887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Wetherby Asset Management Inc. increased its position in shares of Target by 4.8% in the third quarter. Wetherby Asset Management Inc. now owns 19,553 shares of the retailer’s stock valued at $2,090,000 after acquiring an additional 903 shares during the period. Tower Research Capital LLC TRC purchased a new position in Target during the 3rd quarter valued at about $1,881,000. EP Wealth Advisors LLC purchased a new position in Target during the 3rd quarter valued at about $4,946,000. Metropolitan Life Insurance Co NY increased its holdings in Target by 0.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 78,432 shares of the retailer’s stock valued at $8,385,000 after purchasing an additional 702 shares during the period. Finally, BTC Capital Management Inc. bought a new position in Target during the 3rd quarter valued at approximately $1,282,000. Institutional investors own 76.89% of the company’s stock.
A number of equities research analysts have recently weighed in on TGT shares. Buckingham Research reiterated a “buy” rating and issued a $145.00 price objective (up from $131.00) on shares of Target in a research report on Thursday, November 21st. KeyCorp restated a “buy” rating and set a $140.00 target price (up previously from $130.00) on shares of Target in a report on Thursday, November 21st. Robert W. Baird upped their target price on Target from $115.00 to $140.00 in a report on Wednesday, November 27th. Nomura assumed coverage on Target in a research note on Friday, November 8th. They issued a “buy” rating and a $123.00 price target for the company. Finally, Raymond James assumed coverage on shares of Target in a report on Monday, October 7th. They issued a “strong-buy” rating and a $130.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $117.19.
Shares of TGT stock opened at $116.92 on Friday. The business’s fifty day moving average is $125.78 and its 200 day moving average is $107.86. The company has a quick ratio of 0.15, a current ratio of 0.83 and a debt-to-equity ratio of 1.10. The stock has a market cap of $58.94 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.43 and a beta of 0.56. Target Co. has a twelve month low of $69.07 and a twelve month high of $130.24.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.36 EPS for the quarter, beating the consensus estimate of $1.19 by $0.17. Target had a return on equity of 28.22% and a net margin of 4.18%. The business had revenue of $18.41 billion during the quarter, compared to analyst estimates of $18.45 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts expect that Target Co. will post 6.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.66 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.64 annualized dividend and a dividend yield of 2.26%. Target’s payout ratio is 48.98%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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