Verity & Verity LLC Increases Position in Target Co. (NYSE:TGT)

Verity & Verity LLC increased its holdings in Target Co. (NYSE:TGT) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,256 shares of the retailer’s stock after acquiring an additional 9,035 shares during the period. Target comprises approximately 1.5% of Verity & Verity LLC’s portfolio, making the stock its 24th biggest holding. Verity & Verity LLC’s holdings in Target were worth $16,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in Target in the 3rd quarter valued at $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the last quarter. FSA Wealth Management LLC bought a new position in Target during the third quarter valued at about $36,000. Catalyst Capital Advisors LLC purchased a new stake in Target during the third quarter worth about $38,000. Finally, First Financial Corp IN raised its position in Target by 330.8% in the fourth quarter. First Financial Corp IN now owns 280 shares of the retailer’s stock worth $38,000 after acquiring an additional 215 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. TD Cowen reduced their target price on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Melius Research assumed coverage on Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Guggenheim decreased their price objective on Target from $180.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and dropped their price objective for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Target currently has an average rating of “Hold” and an average target price of $158.23.

Target Trading Up 0.3 %

TGT stock opened at $133.62 on Friday. The company has a market capitalization of $61.22 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company’s 50 day moving average price is $136.45 and its two-hundred day moving average price is $145.23.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the previous year, the business earned $2.10 EPS. Target’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts predict that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.35%. Target’s payout ratio is 47.51%.

Target Profile

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.