Parr Mcknight Wealth Management Group LLC Makes New $2.62 Million Investment in Target Co. (NYSE:TGT)

Parr Mcknight Wealth Management Group LLC bought a new position in shares of Target Co. (NYSE:TGT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,390 shares of the retailer's stock, valued at approximately $2,621,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Nicholas Company Inc. grew its position in Target by 20.5% during the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer's stock worth $7,544,000 after buying an additional 9,485 shares during the period. River Road Asset Management LLC grew its holdings in shares of Target by 144.9% in the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer's stock worth $31,699,000 after acquiring an additional 138,751 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in Target in the 4th quarter valued at approximately $6,459,000. Sierra Summit Advisors LLC raised its holdings in Target by 29.0% during the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer's stock worth $1,940,000 after purchasing an additional 3,231 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer's stock worth $2,430,000 after purchasing an additional 3,590 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Price Performance

Shares of TGT stock traded down $0.76 during mid-day trading on Monday, reaching $94.30. The company's stock had a trading volume of 7,371,358 shares, compared to its average volume of 6,007,003. 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 firm's 50-day moving average is $97.28 and its two-hundred day moving average is $119.76. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40. The company has a market cap of $42.85 billion, a P/E ratio of 10.00, a PEG ratio of 1.94 and a beta of 1.27.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 EPS. On average, research analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given 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 yield of 4.75%. Target's dividend payout ratio (DPR) is 49.23%.

Analyst Ratings Changes

TGT has been the subject of a number of research analyst reports. Roth Mkm restated a "neutral" rating and issued a $122.00 price target (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. Morgan Stanley cut their target price on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research report on Thursday. Mizuho lowered their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday. Gordon Haskett downgraded Target from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Finally, Citigroup reduced their target price on Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $117.97.

Target Company 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.