Target Co. (NYSE:TGT) Shares Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. boosted its stake in shares of Target Co. (NYSE:TGT) by 110.7% in the fourth quarter, Holdings Channel reports. The fund owned 257 shares of the retailer’s stock after purchasing an additional 135 shares during the period. Raleigh Capital Management Inc.’s holdings in Target were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Target by 8.3% during the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. FMR LLC raised its position in Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after buying an additional 1,046,044 shares during the last quarter. Geode Capital Management LLC raised its position in Target by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after buying an additional 130,691 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Target by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after acquiring an additional 62,916 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Up 1.1 %

Shares of NYSE TGT opened at $137.24 on Friday. The firm has a market cap of $62.89 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16. 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 Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The firm’s 50 day moving average price is $134.98 and its 200 day moving average price is $144.94.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 EPS. As a group, sell-side analysts anticipate that Target Co. will post 8.68 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is currently 47.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TGT shares. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Bank of America dropped their price objective on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Guggenheim raised their target price on Target from $145.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $158.57.

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.