Retirement Planning Co of New England Inc. Boosts Stock Position in Target Co. (NYSE:TGT)

Retirement Planning Co of New England Inc. lifted its position in Target Co. (NYSE:TGT) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,921 shares of the retailer’s stock after purchasing an additional 111 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Target were worth $800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Target in the 3rd quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of Target in the 4th quarter worth about $29,000. MCF Advisors LLC boosted its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Target by 110.7% in 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 in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Target in the 3rd quarter worth about $36,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Up 0.9 %

Shares of NYSE:TGT opened at $105.61 on Tuesday. Target Co. has a 52-week low of $103.46 and a 52-week high of $181.86. The firm has a market capitalization of $48.11 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.94 and a beta of 1.18. The stock has a 50 day moving average price of $128.68 and a 200-day moving average price of $139.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion for 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%. As a group, equities research analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Oppenheimer cut their price objective on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. KGI Securities set a $132.00 target price on Target in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered their target price on Target from $166.00 to $142.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus target price of $145.87.

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.