Financial Advocates Investment Management Grows Stake in Target Co. (TGT)

Financial Advocates Investment Management grew its stake in shares of Target Co. (NYSE:TGT) by 2,130.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,975 shares of the retailer’s stock after acquiring an additional 4,752 shares during the period. Financial Advocates Investment Management’s holdings in Target were worth $329,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted 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 worth $403,145,000 after buying an additional 671,121 shares during the period. Martingale Asset Management L P boosted its holdings in Target by 749.3% in the 3rd quarter. Martingale Asset Management L P now owns 75,603 shares of the retailer’s stock worth $6,669,000 after buying an additional 66,701 shares during the period. Trexquant Investment LP bought a new position in Target in the 3rd quarter worth approximately $444,000. Virtu Financial LLC bought a new position in Target in the 3rd quarter worth approximately $774,000. Finally, Quantbot Technologies LP boosted its holdings in Target by 3,926.6% in the 3rd quarter. Quantbot Technologies LP now owns 13,489 shares of the retailer’s stock worth $1,189,000 after buying an additional 13,154 shares during the period. 83.90% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Friday, March 8th. Deutsche Bank raised their price objective on shares of Target from $80.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Citigroup reissued a “neutral” rating and issued a $78.00 price target on shares of Target in a report on Tuesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $86.00 price target (down from $100.00) on shares of Target in a report on Monday, January 7th. Finally, Tigress Financial reissued a “buy” rating on shares of Target in a report on Thursday, January 17th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $87.25.

In other news, insider Michael Edward Mcnamara sold 5,186 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total transaction of $410,627.48. Following the sale, the insider now owns 77,550 shares in the company, valued at approximately $6,140,409. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cathy R. Smith sold 30,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $74.00, for a total transaction of $2,220,000.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Target stock opened at $79.97 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.20 and a current ratio of 0.83. The firm has a market cap of $41.44 billion, a PE ratio of 14.84, a P/E/G ratio of 2.20 and a beta of 0.68. 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 data on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.01. The firm had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $23.05 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. As a group, equities analysts forecast that Target Co. will post 5.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is currently 47.50%.

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Target Company Profile

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.

See Also: Quiet Period

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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