Net Worth Advisory Group Lowers Stock Position in Target Co. (NYSE:TGT)

Net Worth Advisory Group lessened its stake in shares of Target Co. (NYSE:TGT) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,149 shares of the retailer’s stock after selling 1,118 shares during the quarter. Net Worth Advisory Group’s holdings in Target were worth $966,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Channing Capital Management LLC purchased a new position in Target during the fourth quarter worth about $8,866,000. Morton Community Bank boosted its stake in shares of Target by 2.2% in the fourth quarter. Morton Community Bank now owns 21,176 shares of the retailer’s stock valued at $2,863,000 after purchasing an additional 465 shares during the period. Johnson Investment Counsel Inc. boosted its stake in shares of Target by 4.8% in the fourth quarter. Johnson Investment Counsel Inc. now owns 13,230 shares of the retailer’s stock valued at $1,788,000 after purchasing an additional 602 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Target by 6.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 63,780 shares of the retailer’s stock valued at $8,622,000 after purchasing an additional 3,937 shares during the period. Finally, Moran Wealth Management LLC boosted its stake in shares of Target by 27.8% in the fourth quarter. Moran Wealth Management LLC now owns 52,224 shares of the retailer’s stock valued at $7,060,000 after purchasing an additional 11,351 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $113.74 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market cap of $52.12 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The company’s 50 day simple moving average is $131.63 and its 200-day simple moving average is $141.07. Target Co. has a 12-month low of $111.84 and a 12-month high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, equities analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.94%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent research reports. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. KGI Securities set a $132.00 price objective on shares of Target in a research note on Wednesday, March 5th. Roth Mkm reissued a “neutral” rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Guggenheim raised their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and reduced their target price for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $145.87.

About Target

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.