Profit Investment Management LLC Buys Shares of 3,110 Target Co. (TGT)
Profit Investment Management LLC bought a new stake in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,110 shares of the retailer’s stock, valued at approximately $203,000.
Several other institutional investors also recently added to or reduced their stakes in TGT. Carnick & Kubik Group LLC purchased a new stake in shares of Target during the 3rd quarter valued at approximately $554,000. CAPROCK Group Inc. purchased a new stake in shares of Target during the 3rd quarter valued at approximately $832,000. SignalPoint Asset Management LLC purchased a new stake in shares of Target during the 3rd quarter valued at approximately $258,000. Pacer Advisors Inc. lifted its stake in shares of Target by 6.9% during the 3rd 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 in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Target by 15.5% during the 3rd 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 in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.
Target Co. (NYSE TGT) traded up $1.08 during midday trading on Wednesday, reaching $76.04. 1,860,216 shares of the company’s stock traded hands, compared to its average volume of 10,192,290. Target Co. has a fifty-two week low of $48.56 and a fifty-two week high of $77.58. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a market cap of $41,200.00, a PE ratio of 15.97, a PEG ratio of 4.87 and a beta of 0.63.
Target (NYSE:TGT) last posted its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The business had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. During the same period in the prior year, the company posted $1.04 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. analysts forecast that Target Co. will post 4.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s dividend payout ratio (DPR) is currently 52.10%.
A number of analysts recently commented on the stock. MKM Partners set a $93.00 price target on shares of Target and gave the company a “buy” rating in a research note on Friday, January 12th. Vetr cut shares of Target from a “hold” rating to a “sell” rating and set a $70.45 price target on the stock. in a research note on Thursday, January 11th. Deutsche Bank upgraded shares of Target from a “neutral” rating to a “positive” rating and upped their price target for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Stifel Nicolaus restated a “hold” rating and set a $75.00 price target on shares of Target in a research note on Thursday, January 11th. Finally, UBS Group upgraded shares of Target from a “neutral” rating to a “positive” rating in a research note on Wednesday, January 10th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $66.15.
In other news, Director Roxanne S. Austin sold 4,705 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
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.
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