Bank of New York Mellon Corp increased its stake in Target Co. (NYSE:TGT) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,654,835 shares of the retailer’s stock after acquiring an additional 916,178 shares during the period. Bank of New York Mellon Corp’s holdings in Target were worth $695,229,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC acquired a new stake in shares of Target in the third quarter worth approximately $554,000. CAPROCK Group Inc. purchased a new position in Target in the third quarter valued at approximately $832,000. SignalPoint Asset Management LLC purchased a new position in Target in the third quarter valued at approximately $258,000. Pacer Advisors Inc. raised its holdings in Target by 6.9% in the third quarter. Pacer Advisors Inc. now owns 37,779 shares of the retailer’s stock valued at $2,229,000 after buying an additional 2,422 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Target by 15.5% in the third quarter. Principal Financial Group Inc. now owns 925,877 shares of the retailer’s stock valued at $54,636,000 after buying an additional 124,409 shares during the period. 87.85% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on TGT. Citigroup restated a “neutral” rating and issued a $80.00 price target (down previously from $86.00) on shares of Target in a report on Friday. Vetr lowered shares of Target from a “hold” rating to a “sell” rating and set a $73.66 price target on the stock. in a report on Thursday. Robert W. Baird upgraded shares of Target from a “neutral” rating to an “outperform” rating and raised their price target for the company from $75.00 to $85.00 in a report on Wednesday. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Finally, Cowen set a $80.00 price target on shares of Target and gave the company a “hold” rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $69.56.
Shares of Target Co. (TGT) opened at $75.70 on Friday. The stock has a market cap of $41,150.00, a P/E ratio of 15.90, a PEG ratio of 3.59 and a beta of 0.75. Target Co. has a 12 month low of $48.56 and a 12 month high of $78.70. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.28%. Target’s dividend payout ratio is currently 52.10%.
ILLEGAL ACTIVITY NOTICE: “Target Co. (TGT) Shares Bought by Bank of New York Mellon Corp” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another website, it was stolen and republished in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.com-unik.info/2018/02/18/target-co-tgt-shares-bought-by-bank-of-new-york-mellon-corp.html.
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.