Target Co. (NYSE:TGT) Stake Reduced by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its position in Target Co. (NYSE:TGT - Free Report) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,232,776 shares of the retailer's stock after selling 353,988 shares during the period. Price T Rowe Associates Inc. MD owned 0.49% of Target worth $301,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Hopwood Financial Services Inc. purchased a new stake in Target in the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter valued at approximately $30,000. MCF Advisors LLC increased its stake in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after purchasing an additional 163 shares during the period. Raleigh Capital Management Inc. lifted its position in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock worth $35,000 after acquiring an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC increased its stake in 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 buying an additional 85 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Down 0.9 %

Shares of Target stock traded down $0.90 during trading hours on Wednesday, hitting $96.02. The company's stock had a trading volume of 1,352,338 shares, compared to its average volume of 7,268,418. The business has a fifty day moving average of $104.27 and a 200 day moving average of $126.91. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40. The company has a market capitalization of $43.74 billion, a PE ratio of 10.18, a P/E/G ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.24 by $0.17. The company 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%. As a group, equities analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business 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 4.67%. The ex-dividend date is Wednesday, May 14th. Target's payout ratio is currently 50.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TGT shares. Roth Mkm restated a "neutral" rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. Roth Capital set a $122.00 price target on Target in a report on Wednesday, March 5th. Citigroup dropped their price objective on Target from $120.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Oppenheimer reduced their price objective on shares of Target from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Finally, KGI Securities set a $132.00 target price on shares of Target in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently 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.