Mitsubishi UFJ Trust & Banking Corp Reduces Position in Target Co. (NYSE:TGT)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Target Co. (NYSE:TGT) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,144 shares of the retailer’s stock after selling 25,687 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Target were worth $32,868,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Truvestments Capital LLC bought a new position in shares of Target during the 3rd quarter valued at approximately $61,000. Hancock Whitney Corp lifted its holdings in Target by 3.3% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after purchasing an additional 68 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Target by 3.7% in the third quarter. The Manufacturers Life Insurance Company now owns 549,363 shares of the retailer’s stock worth $85,624,000 after purchasing an additional 19,790 shares during the period. FMR LLC increased its stake in shares of Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of Target by 16.2% in the third quarter. Brooklyn Investment Group now owns 2,665 shares of the retailer’s stock worth $415,000 after purchasing an additional 372 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TGT shares. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Jefferies Financial Group dropped their price objective on Target from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Guggenheim boosted their price target on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Bank of America cut their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Roth Mkm reissued a “neutral” rating and issued a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $145.55.

Target Trading Up 0.6 %

Shares of NYSE TGT opened at $106.05 on Thursday. The business has a fifty day moving average price of $124.09 and a 200 day moving average price of $137.08. Target Co. has a 1-year low of $101.76 and a 1-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. The stock has a market capitalization of $48.32 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

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

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.22%. Target’s dividend payout ratio (DPR) is currently 50.56%.

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.