Mystic Asset Management Inc. Raises Position in Target Co. (NYSE:TGT)

Mystic Asset Management Inc. boosted its position in Target Co. (NYSE:TGT) by 6.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,316 shares of the retailer’s stock after purchasing an additional 379 shares during the period. Mystic Asset Management Inc.’s holdings in Target were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TGT. State Street Corp raised its stake in Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. FMR LLC increased its stake in shares of Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after purchasing an additional 130,691 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Target by 6.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock valued at $518,089,000 after buying an additional 234,409 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Target by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after buying an additional 62,916 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TGT. Jefferies Financial Group lowered their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their price objective on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Roth Capital set a $122.00 target price on Target in a report on Wednesday, March 5th. Finally, Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $145.87.

Target Trading Up 0.9 %

NYSE TGT opened at $105.61 on Tuesday. The firm has a market cap of $48.11 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target Co. has a 1-year low of $103.46 and a 1-year high of $181.86. The stock has a 50-day moving average of $128.68 and a 200-day moving average of $139.29. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. As a group, sell-side analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.24%. Target’s payout ratio is currently 50.56%.

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.