Argent Trust Co Increases Stake in Target Co. (NYSE:TGT)

Argent Trust Co increased its holdings in shares of Target Co. (NYSE:TGT) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,695 shares of the retailer’s stock after purchasing an additional 1,603 shares during the quarter. Argent Trust Co’s holdings in Target were worth $8,205,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nicholas Company Inc. grew its holdings in Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after purchasing an additional 9,485 shares during the last quarter. River Road Asset Management LLC raised its position in Target by 144.9% during the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after buying an additional 138,751 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of Target during the 4th quarter worth about $6,459,000. Sierra Summit Advisors LLC raised its holdings in Target by 29.0% in the 4th quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after acquiring an additional 3,231 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in Target by 25.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after buying an additional 3,590 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

TGT stock traded down $4.73 during trading on Thursday, reaching $92.96. The company’s stock had a trading volume of 1,077,926 shares, compared to its average volume of 5,460,626. The company has a market capitalization of $42.35 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company’s fifty day moving average is $114.70 and its 200-day moving average is $132.73. 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 1 year low of $87.35 and a 1 year high of $173.05.

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

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.82%. Target’s dividend payout ratio is currently 50.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TGT. Bank of America reduced their price target on Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Robert W. Baird lowered shares of Target from an “outperform” rating to a “neutral” rating and set a $110.00 price objective for the company. in a research note on Monday. UBS Group lowered their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Baird R W downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $136.03.

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.