Oak Asset Management LLC reduced its position in Target Co. (NYSE:TGT) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,542 shares of the retailer’s stock after selling 3,425 shares during the quarter. Target comprises approximately 1.4% of Oak Asset Management LLC’s investment portfolio, making the stock its 25th largest position. Oak Asset Management LLC’s holdings in Target were worth $1,886,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TGT. AQR Capital Management LLC raised its stake in Target by 114.5% in the 3rd quarter. AQR Capital Management LLC now owns 10,474,816 shares of the retailer’s stock valued at $923,984,000 after purchasing an additional 5,590,395 shares during the last quarter. Swedbank purchased a new stake in Target in the 3rd quarter valued at $198,324,000. OppenheimerFunds Inc. grew its holdings in Target by 61.7% in the 3rd quarter. OppenheimerFunds Inc. now owns 2,025,519 shares of the retailer’s stock valued at $178,671,000 after buying an additional 773,180 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Target by 54.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,028,126 shares of the retailer’s stock valued at $178,899,000 after buying an additional 717,588 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Target by 17.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock valued at $403,145,000 after buying an additional 671,121 shares in the last quarter. 83.24% of the stock is owned by hedge funds and other institutional investors.
TGT stock traded down $0.98 during mid-day trading on Friday, reaching $70.88. The company had a trading volume of 4,146,220 shares, compared to its average volume of 4,208,949. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.83 and a quick ratio of 0.13. The firm has a market capitalization of $36.99 billion, a P/E ratio of 15.05, a P/E/G ratio of 2.12 and a beta of 0.72. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $90.39.
Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, November 20th. The retailer reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.02). The company had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.81 billion. Target had a net margin of 4.31% and a return on equity of 25.02%. Target’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. On average, analysts expect that Target Co. will post 5.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 20th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, February 19th. Target’s dividend payout ratio is currently 54.35%.
Several analysts have issued reports on the company. Tigress Financial restated a “buy” rating on shares of Target in a report on Thursday, January 17th. Telsey Advisory Group reiterated an “outperform” rating and set a $86.00 price target (down from $100.00) on shares of Target in a report on Monday, January 7th. Standpoint Research upgraded Target from a “hold” rating to a “buy” rating and set a $62.30 price target for the company in a report on Wednesday, December 26th. Citigroup lowered their price target on Target from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, December 3rd. Finally, Zacks Investment Research cut Target from a “buy” rating to a “hold” rating in a report on Monday, November 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $86.92.
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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