Arvest Investments Inc. Sells 516 Shares of Target Co. (NYSE:TGT)

Arvest Investments Inc. lowered its position in Target Co. (NYSE:TGTFree Report) by 5.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,158 shares of the retailer’s stock after selling 516 shares during the period. Arvest Investments Inc.’s holdings in Target were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of 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 acquiring an additional 2,732,801 shares during the period. FMR LLC lifted its position in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Geode Capital Management LLC lifted its position in shares of Target by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after acquiring an additional 130,691 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Target by 6.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock worth $518,089,000 after acquiring an additional 234,409 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Target by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after acquiring an additional 62,916 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.2 %

Shares of TGT opened at $104.81 on Thursday. The firm has a market capitalization of $47.75 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The business’s fifty day moving average price is $127.31 and its two-hundred day moving average price is $138.71. Target Co. has a 52 week low of $103.46 and a 52 week high of $181.86.

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

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.27%. Target’s dividend payout ratio is currently 50.56%.

Analysts Set New Price Targets

A number of brokerages have commented on TGT. Bank of America reduced their price objective on Target from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Roth Mkm reissued a “neutral” rating and issued a $122.00 target price (down from $131.00) on shares of Target in a report on Wednesday, March 5th. HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a report on Wednesday, November 20th. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a report on Wednesday, March 5th. Finally, Guggenheim increased their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $145.87.

Get Our Latest Stock Analysis on Target

Target Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGTFree Report).

Institutional Ownership by Quarter for Target (NYSE:TGT)

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