Centricity Wealth Management LLC Acquires New Position in Target Co. (NYSE:TGT)

Centricity Wealth Management LLC bought a new position in Target Co. (NYSE:TGT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 710 shares of the retailer’s stock, valued at approximately $96,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. State Street Corp boosted 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 worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after buying an additional 1,981,458 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Target by 173.2% during the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during the last quarter. FMR LLC grew its stake in Target by 11.7% during the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in Target by 773.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock valued at $129,795,000 after acquiring an additional 737,384 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Trading Down 2.9 %

NYSE TGT opened at $124.40 on Friday. The stock has a market cap of $57.00 billion, a PE ratio of 13.19, a PEG ratio of 1.98 and a beta of 1.15. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company’s 50-day moving average price is $134.41 and its 200-day moving average price is $142.67. 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 issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the prior year, the company earned $2.10 earnings per share. Target’s revenue was up .9% on a year-over-year basis. Equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.60%. Target’s dividend payout ratio (DPR) is currently 47.51%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Guggenheim increased their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Stifel Nicolaus lifted their price objective on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and lowered their target price for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Finally, TD Cowen reduced their price target on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $157.70.

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.