Gradient Investments LLC Buys 51,794 Shares of Target Co. (NYSE:TGT)

Gradient Investments LLC boosted its stake in shares of Target Co. (NYSE:TGT) by 30.6% in the fourth quarter, Holdings Channel reports. The firm owned 221,061 shares of the retailer’s stock after acquiring an additional 51,794 shares during the period. Gradient Investments LLC’s holdings in Target were worth $29,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new position in Target in the 3rd quarter valued at $28,000. Wolff Wiese Magana LLC grew its position in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. MCF Advisors LLC grew its position in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Target during the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of several recent analyst reports. TD Cowen dropped their price target on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Evercore ISI reduced their price target on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Finally, Guggenheim increased their target price on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $158.57.

Target Stock Up 0.5 %

Shares of NYSE:TGT opened at $137.99 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market cap of $63.23 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.21 and a beta of 1.16. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company’s 50-day moving average price is $134.66 and its two-hundred day moving average price is $144.89.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period last year, the company earned $2.10 earnings per share. Target’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts forecast that Target Co. will post 8.68 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.25%. Target’s payout ratio is currently 47.51%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.