BankPlus Trust Department Invests $223,000 in Target Co. (NYSE:TGT)

BankPlus Trust Department acquired a new position in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,651 shares of the retailer’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares in the last quarter. FMR LLC boosted its holdings in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after purchasing an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after purchasing an additional 130,691 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Target by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after purchasing an additional 62,916 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Target by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock valued at $475,914,000 after purchasing an additional 56,695 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Up 1.5 %

NYSE:TGT opened at $126.11 on Tuesday. The stock has a fifty day moving average price of $134.28 and a two-hundred day moving average price of $142.75. The stock has a market capitalization of $57.79 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.94 and a beta of 1.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Citigroup increased their price objective on Target from $130.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, January 17th. TD Cowen decreased their price objective on Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Stifel Nicolaus increased their price objective on Target from $137.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Finally, Sanford C. Bernstein increased their price objective on Target from $139.00 to $142.00 and gave the company a “market perform” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $157.70.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.