Azimuth Capital Management LLC Trims Holdings in Target Co. (NYSE:TGT)


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Azimuth Capital Management LLC decreased its stake in shares of Target Co. (NYSE:TGT) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,907 shares of the retailer’s stock after selling 1,270 shares during the quarter. Azimuth Capital Management LLC’s holdings in Target were worth $5,633,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Target by 7.1% during the fourth quarter. BlackRock Inc. now owns 37,134,621 shares of the retailer’s stock worth $6,555,375,000 after buying an additional 2,462,178 shares in the last quarter. FMR LLC lifted its position in Target by 23.6% during the fourth quarter. FMR LLC now owns 5,493,847 shares of the retailer’s stock worth $969,830,000 after buying an additional 1,049,440 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Target by 2.3% during the third quarter. UBS Asset Management Americas Inc. now owns 2,986,521 shares of the retailer’s stock worth $470,138,000 after buying an additional 68,502 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Target by 25.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,124,852 shares of the retailer’s stock valued at $375,104,000 after purchasing an additional 434,052 shares during the period. Finally, California Public Employees Retirement System raised its position in Target by 29.4% in the fourth quarter. California Public Employees Retirement System now owns 1,921,409 shares of the retailer’s stock valued at $339,186,000 after purchasing an additional 436,897 shares during the period. Hedge funds and other institutional investors own 79.17% of the company’s stock.

TGT has been the topic of a number of research analyst reports. Argus upgraded Target from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Tuesday, November 24th. MKM Partners upgraded Target from a “sell” rating to a “neutral” rating and lifted their target price for the company from $127.00 to $156.00 in a research report on Thursday, November 19th. Deutsche Bank Aktiengesellschaft lifted their target price on Target from $194.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, January 14th. Morgan Stanley lifted their target price on Target from $180.00 to $195.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 20th. Finally, Telsey Advisory Group lifted their target price on Target from $190.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 14th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $165.29.

TGT traded down $3.34 on Tuesday, hitting $185.65. 104,750 shares of the company were exchanged, compared to its average volume of 3,570,193. Target Co. has a twelve month low of $90.17 and a twelve month high of $199.96. The company has a market cap of $92.97 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.64 and a beta of 0.97. The company has a current ratio of 1.05, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average price of $189.95 and a two-hundred day moving average price of $167.31.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 10th. Investors of record on Wednesday, February 17th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, February 16th. This represents a $2.72 annualized dividend and a yield of 1.47%. Target’s payout ratio is 42.57%.

In other Target news, insider Stephanie A. Lundquist sold 16,894 shares of Target stock in a transaction dated Thursday, January 14th. The stock was sold at an average price of $198.34, for a total transaction of $3,350,755.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Target Profile

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, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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