Zions Bancorporation N.A. Purchases 4,724 Shares of Target Co. (NYSE:TGT)

Zions Bancorporation N.A. raised its position in shares of Target Co. (NYSE:TGT) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,156 shares of the retailer’s stock after acquiring an additional 4,724 shares during the period. Zions Bancorporation N.A.’s holdings in Target were worth $4,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Insight 2811 Inc. boosted its stake in Target by 4.7% during the 4th quarter. Insight 2811 Inc. now owns 3,273 shares of the retailer’s stock valued at $442,000 after purchasing an additional 148 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of Target during the fourth quarter worth approximately $342,000. Congress Wealth Management LLC DE bought a new stake in shares of Target in the fourth quarter valued at approximately $337,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Target in the fourth quarter worth $6,459,000. Finally, Horrell Capital Management Inc. grew its stake in shares of Target by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock worth $3,603,000 after acquiring an additional 76 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

TGT stock opened at $108.43 on Tuesday. The stock has a market capitalization of $49.40 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a 50 day moving average price of $125.28 and a 200 day moving average price of $137.62. Target Co. has a fifty-two week low of $101.76 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Gordon Haskett downgraded shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. KGI Securities set a $132.00 price target on Target in a research note on Wednesday, March 5th. Roth Capital set a $122.00 price objective on Target in a research report on Wednesday, March 5th. Oppenheimer decreased their price target on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Bank of America dropped their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $145.55.

Target Company Profile

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.