Phocas Financial Corp. Has $600,000 Holdings in Target Co. (NYSE:TGT)

Phocas Financial Corp. raised its position in shares of Target Co. (NYSE:TGT – Get Rating) by 20.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,025 shares of the retailer’s stock after purchasing an additional 675 shares during the quarter. Phocas Financial Corp.’s holdings in Target were worth $600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in Target by 566.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,775,981 shares of the retailer’s stock worth $956,973,000 after acquiring an additional 5,759,168 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Target by 122,068.9% during the 3rd quarter. Fisher Asset Management LLC now owns 4,793,906 shares of the retailer’s stock valued at $711,368,000 after acquiring an additional 4,789,982 shares during the last quarter. FMR LLC boosted its position in shares of Target by 27.5% during the 2nd quarter. FMR LLC now owns 4,423,218 shares of the retailer’s stock valued at $624,690,000 after acquiring an additional 953,518 shares during the last quarter. State Street Corp boosted its position in shares of Target by 2.6% during the 3rd quarter. State Street Corp now owns 34,191,786 shares of the retailer’s stock valued at $5,073,719,000 after acquiring an additional 852,361 shares during the last quarter. Finally, Amundi lifted its position in Target by 70.9% in the 2nd quarter. Amundi now owns 1,749,200 shares of the retailer’s stock worth $255,285,000 after buying an additional 725,396 shares during the last quarter. Institutional investors and hedge funds own 78.86% of the company’s stock.

Target Trading Down 2.3 %

NYSE TGT opened at $159.36 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.92 and a debt-to-equity ratio of 1.43. Target Co. has a twelve month low of $137.16 and a twelve month high of $254.87. The firm has a market capitalization of $73.36 billion, a PE ratio of 26.65, a P/E/G ratio of 1.31 and a beta of 1.05. The stock’s 50 day moving average is $166.27 and its 200 day moving average is $160.73.

Target (NYSE:TGT – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The retailer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.49. Target had a return on equity of 25.63% and a net margin of 2.55%. The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $30.73 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. Research analysts forecast that Target Co. will post 8.35 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.71%. Target’s dividend payout ratio is presently 72.24%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 35,000 shares of Target stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the sale, the insider now directly owns 191,272 shares in the company, valued at $30,408,422.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on TGT shares. Roth Capital restated a “neutral” rating on shares of Target in a research report on Wednesday, March 1st. Morgan Stanley restated an “equal weight” rating and issued a $155.00 target price on shares of Target in a research report on Monday, February 13th. Sanford C. Bernstein started coverage on Target in a research report on Tuesday, December 6th. They issued an “outperform” rating and a $190.00 target price for the company. Oppenheimer started coverage on Target in a research report on Monday, January 23rd. They issued an “outperform” rating and a $190.00 target price for the company. Finally, Credit Suisse Group boosted their target price on Target from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 1st. Thirteen analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.69.

Target Company Profile

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.