Quantitative Systematic Strategies LLC trimmed its stake in shares of Target Co. (NYSE:TGT) by 35.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,542 shares of the retailer’s stock after selling 4,146 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Target were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Security National Bank of Sioux City Iowa IA raised its stake in shares of Target by 0.8% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,341 shares of the retailer’s stock worth $698,000 after buying an additional 102 shares in the last quarter. Rowland & Co. Investment Counsel ADV raised its stake in shares of Target by 4.7% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock worth $155,000 after buying an additional 132 shares in the last quarter. Security National Bank of SO Dak raised its stake in shares of Target by 2.0% during the 2nd quarter. Security National Bank of SO Dak now owns 10,333 shares of the retailer’s stock worth $540,000 after buying an additional 207 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Target by 3.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 10,910 shares of the retailer’s stock worth $556,000 after buying an additional 352 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in Target by 4.1% in the 2nd quarter. Moors & Cabot Inc. now owns 13,359 shares of the retailer’s stock valued at $699,000 after purchasing an additional 530 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.
TGT has been the subject of several research analyst reports. Vetr downgraded Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price objective for the company. in a research note on Monday, November 20th. Zacks Investment Research downgraded Target from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Deutsche Bank raised Target from a “neutral” rating to a “positive” rating and raised their price objective for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Morgan Stanley dropped their price objective on Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, November 16th. Finally, Barclays set a $45.00 price objective on Target and gave the company a “sell” rating in a research note on Wednesday, November 15th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $66.88.
Target Co. (NYSE TGT) opened at $72.71 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $39,520.00, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.45 and a beta of 0.75. Target Co. has a 1 year low of $48.56 and a 1 year high of $78.70.
Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The business had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. sell-side analysts forecast that Target Co. will post 4.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s dividend payout ratio (DPR) is 52.10%.
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Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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