Tower Bridge Advisors Acquires 598 Shares of Target Co. (NYSE:TGT)

Tower Bridge Advisors raised its holdings in shares of Target Co. (NYSE:TGT) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,322 shares of the retailer’s stock after purchasing an additional 598 shares during the period. Tower Bridge Advisors’ holdings in Target were worth $855,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TGT. Thrivent Financial for Lutherans grew its position in Target by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of Target by 25.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after acquiring an additional 3,590 shares during the period. Northeast Financial Group Inc. purchased a new stake in Target during the fourth quarter valued at $1,566,000. D.A. Davidson & CO. lifted its holdings in Target by 8.6% in the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after acquiring an additional 9,510 shares during the period. Finally, LMG Wealth Partners LLC purchased a new position in Target in the fourth quarter worth about $1,438,000. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the topic of several recent research reports. Daiwa America cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased their price target on shares of Target from $139.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $150.00 price target on shares of Target in a research note on Friday, January 17th. TD Cowen reduced their price objective on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Finally, Guggenheim lifted their target price on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $157.93.

Target Trading Up 1.5 %

Shares of TGT stock opened at $124.37 on Friday. The company has a market cap of $56.99 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The stock’s 50 day simple moving average is $133.77 and its two-hundred day simple moving average is $142.35. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.60%. Target’s payout ratio is presently 47.51%.

Target 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.