Ethic Inc. Has $5.77 Million Stake in Target Co. (NYSE:TGT)

Ethic Inc. cut its holdings in Target Co. (NYSE:TGT - Free Report) by 48.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,714 shares of the retailer's stock after selling 39,832 shares during the period. Ethic Inc.'s holdings in Target were worth $5,774,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TGT. Hopwood Financial Services Inc. acquired a new position in shares of Target during the fourth quarter worth approximately $29,000. Bernard Wealth Management Corp. bought a new stake in shares of Target during the fourth quarter valued at approximately $30,000. MCF Advisors LLC raised its stake in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock worth $35,000 after buying an additional 163 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock worth $35,000 after purchasing an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC raised its position in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after acquiring an additional 85 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Shares of TGT traded down $2.01 during mid-day trading on Tuesday, reaching $99.07. The company's stock had a trading volume of 7,759,480 shares, compared to its average volume of 5,841,327. 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 business has a 50-day simple moving average of $99.56 and a two-hundred day simple moving average of $123.10. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40. The stock has a market cap of $45.01 billion, a P/E ratio of 10.51, a PEG ratio of 1.94 and a beta of 1.27.

Target (NYSE:TGT - Get Free Report) last posted 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. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analysts' expectations of $30.83 billion. As a group, equities research analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced 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. This represents a $4.48 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Wednesday, May 14th. Target's payout ratio is 50.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TGT. Telsey Advisory Group dropped their price objective on Target from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their price target on Target from $150.00 to $135.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Oppenheimer decreased their price objective on Target from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Target from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $142.00 to $101.00 in a report on Wednesday, April 16th. Finally, Baird R W lowered shares of Target from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $128.57.

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.