Platform Technology Partners Has $538,000 Stake in Target Co. (NYSE:TGT)

Platform Technology Partners lowered its position in shares of Target Co. (NYSE:TGT) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,980 shares of the retailer’s stock after selling 408 shares during the quarter. Platform Technology Partners’ holdings in Target were worth $538,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in Target in the 3rd quarter valued at $28,000. Wolff Wiese Magana LLC increased its position in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. MCF Advisors LLC raised its holdings in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Target in the 3rd quarter valued at approximately $36,000. 79.73% of the stock is owned by institutional investors.

Target Stock Down 2.5 %

TGT opened at $131.29 on Friday. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average price of $135.24 and a 200-day moving average price of $143.98. The stock has a market capitalization of $60.16 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.24 and a beta of 1.15.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the company earned $2.10 earnings per share. Target’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.41%. Target’s dividend payout ratio is currently 47.51%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Stifel Nicolaus upped their target price on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Evercore ISI reduced their price objective on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research report on Thursday, November 21st. Finally, Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.70.

Target Company 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.