Precedent Wealth Partners LLC Grows Stake in Target Co. (NYSE:TGT)

Precedent Wealth Partners LLC grew its position in Target Co. (NYSE:TGT) by 264.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,004 shares of the retailer’s stock after buying an additional 5,805 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Target were worth $1,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after buying an additional 490 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Target by 8.6% in the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after acquiring an additional 9,510 shares in the last quarter. Prana Capital Management LP lifted its stake in shares of Target by 47.5% during the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after purchasing an additional 69,885 shares during the last quarter. Polianta Ltd boosted its position in Target by 39.2% during the fourth quarter. Polianta Ltd now owns 10,300 shares of the retailer’s stock valued at $1,392,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Leibman Financial Services Inc. bought a new stake in Target during the fourth quarter valued at about $2,272,000. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on TGT shares. Sanford C. Bernstein started coverage on shares of Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target for the company. Daiwa America cut shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Citigroup lifted their price target on shares of Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Guggenheim increased their price objective on Target from $145.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus raised their price objective on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus target price of $158.57.

Target Trading Up 0.5 %

Shares of NYSE:TGT opened at $137.99 on Friday. The company has a market capitalization of $63.23 billion, a PE ratio of 14.63, a PEG ratio of 2.21 and a beta of 1.16. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The business has a 50 day moving average of $134.37 and a two-hundred day moving average of $144.82. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (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 firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same period last year, the company posted $2.10 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Target Co. will post 8.68 EPS for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.25%. Target’s dividend payout ratio is presently 47.51%.

About Target

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.