Nisa Investment Advisors LLC reduced its position in shares of Target Co. (NYSE:TGT) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,616 shares of the retailer’s stock after selling 23,301 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Target were worth $15,241,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Legacy Financial Advisors Inc. grew its stake in shares of Target by 23.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 938 shares of the retailer’s stock worth $62,000 after acquiring an additional 180 shares in the last quarter. Norway Savings Bank grew its stake in shares of Target by 19.4% in the fourth quarter. Norway Savings Bank now owns 1,230 shares of the retailer’s stock worth $81,000 after acquiring an additional 200 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Target in the third quarter worth $104,000. Csenge Advisory Group acquired a new position in shares of Target in the third quarter worth $109,000. Finally, Daiwa SB Investments Ltd. acquired a new position in shares of Target in the fourth quarter worth $140,000. 83.24% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on TGT shares. KeyCorp started coverage on shares of Target in a research note on Friday, November 16th. They issued an “overweight” rating and a $110.00 price target for the company. Zacks Investment Research cut shares of Target from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Morgan Stanley decreased their price objective on shares of Target from $70.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, November 23rd. ValuEngine cut shares of Target from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, Deutsche Bank set a $82.00 price objective on shares of Target and gave the stock a “hold” rating in a research report on Wednesday, November 21st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Target presently has an average rating of “Hold” and an average target price of $86.92.
Shares of Target stock traded down $0.98 on Friday, reaching $70.88. 4,146,220 shares of the stock were exchanged, compared to its average volume of 4,208,949. The company has a quick ratio of 0.13, a current ratio of 0.83 and a debt-to-equity ratio of 1.10. Target Co. has a 1-year low of $60.15 and a 1-year high of $90.39. The firm has a market cap of $36.99 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72.
Target (NYSE:TGT) last issued its earnings results on Tuesday, November 20th. The retailer reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.02). Target had a return on equity of 25.02% and a net margin of 4.31%. The company had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Target Co. will post 5.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 20th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, February 19th. Target’s dividend payout ratio (DPR) is presently 54.35%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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