AGF Management Ltd. Invests $925,000 in Target Co. (NYSE:TGT)

AGF Management Ltd. acquired a new stake in Target Co. (NYSE:TGT) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 6,845 shares of the retailer’s stock, valued at approximately $925,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new position in shares of Target during the 3rd quarter worth about $28,000. FSA Wealth Management LLC bought a new position in Target during the 3rd quarter worth approximately $36,000. MCF Advisors LLC grew its holdings in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the period. Raleigh Capital Management Inc. increased its stake in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Target in the fourth quarter worth $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $104.71 on Friday. The company has a market cap of $47.98 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The firm has a 50-day moving average of $129.35 and a 200-day moving average of $139.88. Target Co. has a one year low of $103.46 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

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

Target Announces Dividend

The firm 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. This represents a $4.48 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Evercore ISI decreased their price target on shares of Target from $135.00 to $130.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. StockNews.com lowered Target from a “buy” rating to a “hold” rating in a research report on Wednesday. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus dropped their target price on shares of Target from $145.00 to $130.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.