Target Co. (TGT) Shares Sold by Swiss National Bank
Swiss National Bank decreased its position in Target Co. (NYSE:TGT) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,917,717 shares of the retailer’s stock after selling 21,600 shares during the period. Swiss National Bank’s holdings in Target were worth $125,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of TGT. Macquarie Group Ltd. raised its stake in shares of Target by 5.7% during the 2nd quarter. Macquarie Group Ltd. now owns 239,331 shares of the retailer’s stock valued at $12,515,000 after buying an additional 12,977 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Target by 213.8% during the 2nd quarter. Janus Henderson Group PLC now owns 226,307 shares of the retailer’s stock valued at $11,833,000 after buying an additional 154,186 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Target during the 2nd quarter valued at about $1,150,000. PVG Asset Management Corp raised its stake in shares of Target by 216.0% during the 2nd quarter. PVG Asset Management Corp now owns 86,997 shares of the retailer’s stock valued at $4,549,000 after buying an additional 59,465 shares during the last quarter. Finally, Roberts Glore & Co. Inc. IL raised its stake in shares of Target by 10.6% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 5,755 shares of the retailer’s stock valued at $301,000 after buying an additional 550 shares during the last quarter. Institutional investors own 87.85% of the company’s stock.
Target Co. (NYSE:TGT) opened at $72.45 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. Target Co. has a 52 week low of $48.56 and a 52 week high of $78.70. The firm has a market capitalization of $39,381.84, a PE ratio of 15.09, a P/E/G ratio of 3.42 and a beta of 0.76.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be paid a $0.62 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 annualized dividend and a dividend yield of 3.42%. Target’s dividend payout ratio is presently 51.88%.
In related news, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the sale, the insider now directly owns 16,906 shares in the company, valued at approximately $1,320,020.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,262 shares of company stock valued at $1,185,484. 0.20% of the stock is owned by company insiders.
A number of research firms have weighed in on TGT. Cowen set a $80.00 price objective on Target and gave the company a “hold” rating in a research note on Thursday. Vetr upgraded Target from a “sell” rating to a “hold” rating and set a $72.52 price objective for the company in a research note on Monday, February 5th. Zacks Investment Research upgraded Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a research note on Saturday, January 20th. MKM Partners set a $93.00 price objective on Target and gave the company a “buy” rating in a research note on Friday, January 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $75.00 price objective on shares of Target in a research note on Thursday, January 11th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Target presently has an average rating of “Hold” and an average target price of $67.64.
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Target Company Profile
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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