Woodline Partners LP Takes Position in Target Co. (NYSE:TGT)

Woodline Partners LP acquired a new stake in Target Co. (NYSE:TGT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 27,665 shares of the retailer's stock, valued at approximately $3,740,000.

A number of other hedge funds have also recently added to or reduced their stakes in TGT. Avior Wealth Management LLC lifted its position in Target by 8.9% in the fourth quarter. Avior Wealth Management LLC now owns 4,700 shares of the retailer's stock valued at $635,000 after purchasing an additional 384 shares during the period. Brighton Jones LLC lifted its position in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after acquiring an additional 3,059 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of Target by 16.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,215 shares of the retailer's stock valued at $975,000 after acquiring an additional 1,003 shares during the period. CX Institutional lifted its position in shares of Target by 9.3% during the 4th quarter. CX Institutional now owns 3,994 shares of the retailer's stock valued at $540,000 after acquiring an additional 340 shares during the period. Finally, Gradient Investments LLC lifted its position in shares of Target by 30.6% during the 4th quarter. Gradient Investments LLC now owns 221,061 shares of the retailer's stock valued at $29,883,000 after acquiring an additional 51,794 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. KGI Securities set a $132.00 price target on shares of Target in a research report on Wednesday, March 5th. Stifel Nicolaus reduced their price target on shares of Target from $130.00 to $120.00 and set a "hold" rating for the company in a research report on Thursday, March 20th. Gordon Haskett downgraded shares of Target from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Finally, Roth Capital set a $122.00 price target on shares of Target in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $116.68.

Target Trading Down 0.6%

TGT stock traded down $0.61 during midday trading on Friday, hitting $94.26. The stock had a trading volume of 1,625,221 shares, compared to its average volume of 6,008,453. The firm has a market cap of $42.83 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. 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 Co. has a 12-month low of $87.35 and a 12-month high of $167.40. The company's 50-day moving average price is $96.49 and its 200 day moving average price is $118.65.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. During the same period in the previous year, the firm posted $2.03 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. On average, equities research analysts predict that Target Co. will post 8.69 earnings per share 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 paid 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 4.75%. Target's dividend payout ratio is presently 49.23%.

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.