Diametric Capital LP Takes Position in Target Co. (NYSE:TGT)

Diametric Capital LP acquired a new position in shares of Target Co. (NYSE:TGT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,594 shares of the retailer’s stock, valued at approximately $215,000.

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

Target Stock Performance

NYSE TGT opened at $105.84 on Thursday. The company has a fifty day moving average price of $121.12 and a 200-day moving average price of $135.54. The firm has a market cap of $48.22 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 1 year low of $99.98 and a 1 year high of $177.23.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. As a group, equities research analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.23%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analyst Ratings Changes

TGT has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. DA Davidson lowered their price target on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group decreased their price objective on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, Citigroup dropped their target price on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $142.90.

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.