Geode Capital Management LLC Increases Holdings in Target Co. (NYSE:TGT)

Geode Capital Management LLC increased its position in Target Co. (NYSE:TGT) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,414,025 shares of the retailer’s stock after acquiring an additional 130,691 shares during the period. Geode Capital Management LLC’s holdings in Target were worth $1,461,456,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cynosure Group LLC grew its holdings in Target by 4.3% in the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after purchasing an additional 65 shares during the last quarter. Financial Advocates Investment Management grew its stake in Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after acquiring an additional 67 shares during the last quarter. Hancock Whitney Corp increased its holdings in Target by 3.3% during the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after acquiring an additional 68 shares in the last quarter. Beacon Capital Management LLC raised its position in Target by 20.8% during the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the last quarter. Finally, Integral Investment Advisors Inc. lifted its holdings in shares of Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 0.1 %

NYSE:TGT opened at $135.09 on Wednesday. The business’s 50-day moving average is $145.97 and its two-hundred day moving average is $147.52. The firm has a market capitalization of $61.90 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.17. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last announced its 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). The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 earnings per share. Research analysts predict that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.32%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TGT. BMO Capital Markets cut their price objective on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. Jefferies Financial Group raised their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Stifel Nicolaus upped their price objective on Target from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday. Melius Research began coverage on Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective for the company. Finally, HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Target currently has an average rating of “Hold” and a consensus target price of $160.57.

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.