Stoneridge Investment Partners LLC Raises Position in Target Co. (TGT)

Stoneridge Investment Partners LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 204,208 shares of the retailer’s stock after acquiring an additional 1,099 shares during the period. Target accounts for 2.1% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 5th biggest holding. Stoneridge Investment Partners LLC’s holdings in Target were worth $13,325,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TGT. State Street Corp increased its stake in Target by 1.5% during the 2nd quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock valued at $2,716,176,000 after purchasing an additional 775,265 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Target by 7.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,738,657 shares of the retailer’s stock valued at $574,680,000 after purchasing an additional 682,253 shares in the last quarter. American Century Companies Inc. increased its stake in Target by 15.7% during the 4th quarter. American Century Companies Inc. now owns 6,059,271 shares of the retailer’s stock valued at $395,367,000 after purchasing an additional 821,165 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Target by 16.3% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,914,194 shares of the retailer’s stock valued at $289,987,000 after purchasing an additional 687,900 shares in the last quarter. Finally, Capital Research Global Investors bought a new stake in Target during the 2nd quarter valued at about $235,305,000. 87.36% of the stock is owned by institutional investors.

In other news, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total value of $234,240.00. Following the transaction, the insider now owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roxanne S. Austin sold 4,705 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The disclosure for this sale can be found here. Insiders have sold 16,262 shares of company stock worth $1,185,484 in the last ninety days. Insiders own 0.25% of the company’s stock.

Target Co. (TGT) opened at $73.25 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. Target Co. has a 1-year low of $48.56 and a 1-year high of $78.70. The firm has a market cap of $39,523.17, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 3.44 and a beta of 0.76.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The business had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $16.61 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. equities research analysts forecast that Target Co. will post 4.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders 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 yield of 3.39%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s dividend payout ratio is currently 51.88%.

A number of analysts have recently commented on TGT shares. Moffett Nathanson started coverage on shares of Target in a research note on Monday, December 4th. They issued a “neutral” rating for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price target on shares of Target in a research note on Thursday, January 11th. Telsey Advisory Group lifted their price target on shares of Target from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Vetr lowered shares of Target from a “hold” rating to a “sell” rating and set a $70.45 price target for the company. in a research note on Thursday, January 11th. Finally, Wells Fargo & Co started coverage on shares of Target in a research note on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price target for the company. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $66.88.

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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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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