Evergreen Capital Management LLC raised its position in Target Co. (NYSE: TGT – Get Rating) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,409 shares of the retailer’s stock after buying an additional 99 shares during the quarter. Evergreen Capital Management LLC’s holdings in Target were worth $ 3,103,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in Target by 12.2% during the 4th quarter. Sound Income Strategies LLC now owns 423 shares of the retailer’s stock worth $ 98,000 after acquiring an additional 46 shares during the period. Atwood & Palmer Inc. increased its stake in Target by 35.1% during the 4th quarter. Atwood & Palmer Inc. now owns 181 shares of the retailer’s stock worth $ 42,000 after acquiring an additional 47 shares during the period. Tortoise Investment Management LLC increased its stake in Target by 18.5% during the 4th quarter. Tortoise Investment Management LLC now owns 301 shares of the retailer’s stock worth $ 70,000 after acquiring an additional 47 shares during the period. Cypress Capital LLC increased its stake in Target by 0.8% during the 4th quarter. Cypress Capital LLC now owns 5,807 shares of the retailer’s stock worth $ 1,344,000 after acquiring an additional 47 shares during the period. Finally, Newman Dignan & Sheerar Inc. increased its stake in Target by 3.1% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 1,612 shares of the retailer’s stock worth $ 373,000 after acquiring an additional 48 shares during the period. 81.83% of the stock is owned by institutional investors.
In other news, insider Michael J. Fiddelke sold 5,000 shares of Target stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $ 210.19, for a total value of $ 1,050,950.00. Following the completion of the transaction, the insider now directly owns 31,130 shares of the company stock, valued at approximately $ 6,543,214.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cara A. Sylvester sold 2,030 shares of Target stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $ 250.00, for a total value of $ 507,500.00. Following the completion of the transaction, the insider now directly owns 7,891 shares of the company stock, valued at $ 1,972,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,821 shares of company stock valued at $ 8,497,215. Corporate insiders own 0.29% of the company stock.
Shares of TGT opened at $ 139.30 on Friday. The company has a market capitalization of $ 64.59 billion, a PE ratio of 11.55, a PEG ratio of 1.60 and a beta of 0.96. Target Co. has a 12 month low of $ 138.58 and a 12 month high of $ 268.98. The stock’s 50-day moving average price is $ 196.28 and its two-hundred day moving average price is $ 212.00. The company has a current ratio of 0.87, a quick ratio of 0.14 and a debt-to-equity ratio of 1.24.
Target (NYSE: TGT – Get Rating) last announced its earnings results on Wednesday, May 18th. The retailer reported $ 2.19 EPS for the quarter, missing the estimate consensus of $ 3.07 by ($ 0.88). The company had revenue of $ 24.83 billion for the quarter, compared to analyst estimates of $ 24.48 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $ 3.69 earnings per share. Equities research analysts predict that Target Co. will post 8.7 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be given a $ 1.08 dividend. The ex-dividend date is Tuesday, August 16th. This is a positive change from Target’s previous quarterly dividend of $ 0.90. This represents a $ 4.32 annualized dividend and a dividend yield of 3.10%. Target’s dividend payout ratio (DPR) is 29.85%.
A number of equities analysts have commented on TGT shares. Bank of America lowered Target from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $ 235.00 to $ 165.00 in a research note on Wednesday, June 8th. Guggenheim decreased their price target on Target from $ 225.00 to $ 185.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. UBS Group decreased their price target on Target from $ 225.00 to $ 205.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. Cowen decreased their price target on Target from $ 265.00 to $ 190.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. Finally, Royal Bank of Canada reduced their price target on Target from $ 239.00 to $ 231.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 8th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $ 195.81.
Target Company Profile: (Get Rating)
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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