LSV Asset Management Trims Position in Target Co. (TGT)
LSV Asset Management decreased its position in shares of Target Co. (NYSE:TGT) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,220,818 shares of the retailer’s stock after selling 245,365 shares during the period. Target accounts for approximately 0.8% of LSV Asset Management’s portfolio, making the stock its 23rd biggest position. LSV Asset Management’s holdings in Target were worth $477,223,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Investors Research Corp lifted its position in shares of Target by 0.8% in the fourth quarter. Investors Research Corp now owns 17,742 shares of the retailer’s stock worth $1,173,000 after buying an additional 142 shares during the last quarter. Savant Capital LLC lifted its position in shares of Target by 4.0% in the fourth quarter. Savant Capital LLC now owns 4,078 shares of the retailer’s stock worth $270,000 after buying an additional 155 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Target by 6.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,667 shares of the retailer’s stock worth $176,000 after buying an additional 166 shares during the last quarter. Atlas Brown Inc. lifted its position in shares of Target by 3.9% in the fourth quarter. Atlas Brown Inc. now owns 4,406 shares of the retailer’s stock worth $291,000 after buying an additional 166 shares during the last quarter. Finally, Legacy Financial Advisors Inc. increased its stake in shares of Target by 23.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 938 shares of the retailer’s stock worth $62,000 after purchasing an additional 180 shares during the period. 86.72% of the stock is owned by hedge funds and other institutional investors.
Shares of TGT opened at $70.15 on Tuesday. Target Co. has a 12-month low of $60.15 and a 12-month high of $90.39. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.13 and a current ratio of 0.83. The stock has a market cap of $36.99 billion, a P/E ratio of 14.89, 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. Investors of record on Wednesday, February 20th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, February 19th. This represents a $2.56 annualized dividend and a yield of 3.65%. Target’s dividend payout ratio is 54.35%.
TGT has been the topic of a number of recent analyst reports. Cowen upgraded Target from a “market perform” rating to an “outperform” rating and set a $100.00 price objective 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 issued a “buy” rating and a $102.00 price objective on the stock. KeyCorp initiated coverage on Target in a research note on Friday, November 16th. They issued an “overweight” rating and a $110.00 price objective on the stock. ValuEngine lowered Target from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Finally, BMO Capital Markets set a $70.00 price objective on Target and gave the stock a “hold” rating in a research note on Tuesday, November 20th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Target presently has an average rating of “Hold” and an average price target of $86.92.
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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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