Covington Capital Management lessened its stake in Target Co. (NYSE:TGT) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,036 shares of the retailer’s stock after selling 186 shares during the period. Covington Capital Management’s holdings in Target were worth $4,748,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in Target by 36.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,671,968 shares of the retailer’s stock valued at $727,203,000 after acquiring an additional 1,517,068 shares during the period. Charles Schwab Investment Management Inc. increased its position in Target by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,483,728 shares of the retailer’s stock valued at $574,859,000 after acquiring an additional 82,384 shares during the period. AQR Capital Management LLC increased its position in Target by 30.8% in the 4th quarter. AQR Capital Management LLC now owns 3,686,389 shares of the retailer’s stock valued at $472,631,000 after acquiring an additional 867,886 shares during the period. Massachusetts Financial Services Co. MA increased its position in Target by 11.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,569,625 shares of the retailer’s stock valued at $457,662,000 after acquiring an additional 378,872 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Target by 6.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 2,704,016 shares of the retailer’s stock valued at $346,682,000 after acquiring an additional 172,133 shares during the period. Hedge funds and other institutional investors own 82.14% of the company’s stock.
Several equities analysts have issued reports on TGT shares. Guggenheim reiterated a “hold” rating on shares of Target in a research report on Wednesday, January 15th. Zacks Investment Research cut Target from a “buy” rating to a “hold” rating and set a $131.00 target price on the stock. in a research report on Wednesday, January 22nd. Robert W. Baird reiterated a “buy” rating and set a $140.00 target price on shares of Target in a research report on Tuesday, March 3rd. Barclays reiterated a “buy” rating and set a $120.00 target price on shares of Target in a research report on Tuesday, March 17th. Finally, Stifel Nicolaus dropped their target price on Target from $130.00 to $125.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $125.05.
Shares of NYSE:TGT opened at $100.56 on Wednesday. The business’s 50 day simple moving average is $108.91 and its 200-day simple moving average is $114.51. The firm has a market capitalization of $48.44 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.27. Target Co. has a 12 month low of $70.03 and a 12 month high of $130.24.
Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 3rd. The retailer reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.03. The business had revenue of $23.40 billion for the quarter, compared to analyst estimates of $23.45 billion. Target had a return on equity of 28.46% and a net margin of 4.20%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 EPS. On average, equities analysts anticipate that Target Co. will post 6.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Tuesday, May 19th. Target’s dividend payout ratio (DPR) is 41.31%.
In other news, CAO Robert M. Harrison sold 631 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $102.00, for a total transaction of $64,362.00. Following the sale, the chief accounting officer now owns 9,634 shares of the company’s stock, valued at approximately $982,668. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by insiders.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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