Arete Wealth Advisors LLC Makes New Investment in Target Co. (NYSE:TGT)

Arete Wealth Advisors LLC bought 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 and Exchange Commission. The institutional investor bought 2,796 shares of the retailer’s stock, valued at approximately $378,000.

Several other hedge funds have also modified their holdings of TGT. Legacy Investment Solutions LLC purchased a new position in Target in the third quarter worth $28,000. Hopwood Financial Services Inc. acquired a new position in shares of Target during the 4th quarter worth $29,000. MCF Advisors LLC increased its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in Target during the fourth quarter worth about $36,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TGT. Stifel Nicolaus reduced their price target on shares of Target from $130.00 to $120.00 and set a “hold” rating for the company in a research report on Thursday, March 20th. Telsey Advisory Group decreased their target price on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their price target on Target from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Roth Capital set a $122.00 price objective on shares of Target in a research report on Wednesday, March 5th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $140.24.

Target Stock Up 1.5 %

TGT opened at $95.70 on Friday. The company has a market cap of $43.60 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. 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 $90.62 and a 1 year high of $173.05. The firm has a 50 day moving average price of $119.41 and a 200 day moving average price of $134.73.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Sell-side analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

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.