Comerica Securities Inc. grew its stake in Target Co. (NYSE:TGT) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,930 shares of the retailer’s stock after acquiring an additional 1,020 shares during the quarter. Comerica Securities Inc.’s holdings in Target were worth $590,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in TGT. AQR Capital Management LLC increased its holdings in shares of Target by 114.5% in the 3rd quarter. AQR Capital Management LLC now owns 10,474,816 shares of the retailer’s stock valued at $923,984,000 after acquiring an additional 5,590,395 shares during the period. Bank of Montreal Can increased its holdings in shares of Target by 61.8% in the 4th quarter. Bank of Montreal Can now owns 2,304,536 shares of the retailer’s stock valued at $152,306,000 after acquiring an additional 880,424 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of Target by 61.7% in the 3rd quarter. OppenheimerFunds Inc. now owns 2,025,519 shares of the retailer’s stock valued at $178,671,000 after acquiring an additional 773,180 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Target by 54.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,028,126 shares of the retailer’s stock valued at $178,899,000 after acquiring an additional 717,588 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Target by 17.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock valued at $403,145,000 after acquiring an additional 671,121 shares during the period. Institutional investors and hedge funds own 86.72% of the company’s stock.
Shares of TGT opened at $70.41 on Wednesday. Target Co. has a one year low of $60.15 and a one year high of $90.39. The company has a quick ratio of 0.13, a current ratio of 0.83 and a debt-to-equity ratio of 1.10. The stock has a market cap of $37.12 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.12 and a beta of 0.72.
The company also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 20th will be given a dividend of $0.64 per share. The ex-dividend date is Tuesday, February 19th. This represents a $2.56 dividend on an annualized basis and a yield of 3.64%. Target’s dividend payout ratio is currently 54.35%.
A number of research analysts have recently issued reports on TGT shares. Morgan Stanley cut their price target on Target from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, November 23rd. Cowen upgraded Target from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Wednesday, November 7th. Buckingham Research initiated coverage on Target in a research note on Thursday, November 15th. They set a “buy” rating and a $102.00 target price on the stock. Citigroup dropped their target price on Target from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, December 3rd. Finally, Barclays restated a “hold” rating and set a $85.00 target price on shares of Target in a research note on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $86.92.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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