Baker Avenue Asset Management LP grew its position in Target Co. (NYSE:TGT) by 71.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 31,189 shares of the retailer’s stock after buying an additional 13,041 shares during the period. Baker Avenue Asset Management LP’s holdings in Target were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the business. Sontag Advisory LLC bought a new stake in shares of Target in the 4th quarter worth approximately $55,000. Edge Capital Group LLC bought a new stake in shares of Target in the 4th quarter worth approximately $488,000. Financial Advocates Investment Management lifted its position in shares of Target by 2,092.8% in the 4th quarter. Financial Advocates Investment Management now owns 4,890 shares of the retailer’s stock worth $163,000 after acquiring an additional 4,667 shares during the period. Impax Asset Management Group plc lifted its position in shares of Target by 148.5% in the 4th quarter. Impax Asset Management Group plc now owns 156,898 shares of the retailer’s stock worth $10,369,000 after acquiring an additional 93,772 shares during the period. Finally, Paloma Partners Management Co lifted its position in shares of Target by 606.5% in the 4th quarter. Paloma Partners Management Co now owns 160,633 shares of the retailer’s stock worth $10,616,000 after acquiring an additional 137,895 shares during the period. Institutional investors own 81.87% of the company’s stock.
In related news, insider Cathy R. Smith sold 30,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $74.00, for a total transaction of $2,220,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.
TGT stock opened at $77.54 on Thursday. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $90.39. The firm has a market cap of $40.21 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66. The company has a quick ratio of 0.20, a current ratio of 0.83 and a debt-to-equity ratio of 1.08.
Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.01. Target had a return on equity of 25.74% and a net margin of 3.90%. The firm had revenue of $22.98 billion during the quarter, compared to analysts’ expectations of $23.05 billion. During the same period last year, the firm posted $1.37 EPS. The business’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Target Co. will post 5.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.64 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.30%. Target’s dividend payout ratio is 47.50%.
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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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