Northern Trust Corp Grows Stock Position in Target Co. (NYSE:TGT)

Northern Trust Corp lifted its position in Target Co. (NYSE:TGT - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,376,640 shares of the retailer's stock after purchasing an additional 754,883 shares during the quarter. Northern Trust Corp owned about 1.17% of Target worth $726,814,000 as of its most recent SEC filing.

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

Target Stock Performance

Shares of TGT traded up $1.32 during midday trading on Friday, reaching $97.29. 5,291,595 shares of the stock were exchanged, compared to its average volume of 5,743,214. The company has a market capitalization of $44.32 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.94 and a beta of 1.28. 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 twelve month low of $87.35 and a twelve month high of $167.40. The business's 50-day moving average price is $103.11 and its 200 day moving average price is $126.27.

Target (NYSE:TGT - Get Free Report) last announced 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. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, sell-side analysts expect that Target Co. will post 8.69 EPS for the current fiscal 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 issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Wednesday, May 14th. Target's dividend payout ratio is currently 50.56%.

Analysts Set New Price Targets

A number of analysts have issued reports on TGT shares. Guggenheim raised their target price on Target from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Mizuho began coverage on shares of Target in a research note on Friday, April 11th. They set a "neutral" rating and a $92.00 target price on the stock. Roth Capital set a $122.00 price target on shares of Target in a report on Wednesday, March 5th. The Goldman Sachs Group lowered Target from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $142.00 to $101.00 in a research report on Wednesday, April 16th. Finally, Robert W. Baird lowered Target from an "outperform" rating to a "neutral" rating and set a $110.00 price target on the stock. in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Target presently has an average rating of "Hold" and an average target price of $132.37.

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.