Summit Financial Wealth Advisors LLC Acquires 1,014 Shares of Target Co. (NYSE:TGT)

Summit Financial Wealth Advisors LLC raised its holdings in Target Co. (NYSE:TGT) by 32.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,114 shares of the retailer’s stock after purchasing an additional 1,014 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Target were worth $552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC lifted its position in Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock worth $1,532,769,000 after buying an additional 1,358,348 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Target by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock worth $1,332,317,000 after purchasing an additional 470,990 shares in the last quarter. Norges Bank bought a new stake in shares of Target during the fourth quarter valued at approximately $757,892,000. Bank of New York Mellon Corp increased its holdings in shares of Target by 6.5% in 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 purchasing an additional 234,409 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Target by 3.0% in the 4th 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 last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

TGT has been the subject of several research reports. Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Wells Fargo & Company reduced their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. DA Davidson cut their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, Guggenheim lifted 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. One analyst has rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $136.03.

Target Stock Down 4.2 %

Shares of NYSE:TGT traded down $4.14 during midday trading on Thursday, reaching $93.55. The company had a trading volume of 2,432,651 shares, compared to its average volume of 5,466,229. The business’s 50 day moving average price is $114.70 and its 200 day moving average price is $132.73. Target Co. has a 1-year low of $87.35 and a 1-year high of $173.05. 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 stock has a market cap of $42.62 billion, a PE ratio of 9.92, a P/E/G ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Research analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.79%. Target’s dividend payout ratio is presently 50.56%.

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.