Cannell & Spears LLC Buys Shares of 1,900 Target Co. (NYSE:TGT)

Cannell & Spears LLC purchased a new stake in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,900 shares of the retailer’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TGT. State Street Corp increased its holdings in Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after buying an additional 130,691 shares in the last quarter. Norges Bank purchased a new stake in shares of Target in the 4th quarter valued at $757,892,000. Bank of New York Mellon Corp lifted its stake in Target by 6.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock worth $518,089,000 after acquiring an additional 234,409 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Target by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,144,828 shares of the retailer’s stock valued at $425,118,000 after acquiring an additional 91,357 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Guggenheim increased their target price on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group dropped their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. DA Davidson reduced their price objective on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $142.90.

Target Trading Up 0.0 %

TGT opened at $104.37 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52 week low of $100.50 and a 52 week high of $177.89. The business’s 50 day moving average is $121.72 and its two-hundred day moving average is $135.75. The firm has a market cap of $47.55 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, research analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Target 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.