Baker Avenue Asset Management LP Increases Holdings in Target Co. (TGT)

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.

A number of analysts have commented on the company. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Friday, March 8th. ValuEngine cut Target from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Evercore ISI started coverage on Target in a report on Wednesday. They issued an “in-line” rating and a $80.00 target price for the company. Deutsche Bank set a $82.00 target price on Target and gave the stock a “hold” rating in a report on Wednesday, November 21st. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $88.00 target price (up from $86.00) on shares of Target in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $86.92.

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%.

TRADEMARK VIOLATION NOTICE: “Baker Avenue Asset Management LP Increases Holdings in Target Co. (TGT)” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.com-unik.info/2019/03/21/baker-avenue-asset-management-lp-increases-holdings-in-target-co-tgt.html.

About Target

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.

Recommended Story: What are trading strategies for the 52-week high/low?

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).

Institutional Ownership by Quarter for Target (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.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit