Gerber Kawasaki Wealth & Investment Management Purchases 914 Shares of Target Co. (NYSE:TGT)

Gerber Kawasaki Wealth & Investment Management increased its position in shares of Target Co. (NYSE:TGT) by 54.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,591 shares of the retailer’s stock after purchasing an additional 914 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Target were worth $350,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TGT. Invst LLC lifted its stake in shares of Target by 2.4% during the 3rd quarter. Invst LLC now owns 11,760 shares of the retailer’s stock worth $1,833,000 after acquiring an additional 276 shares during the last quarter. Westside Investment Management Inc. lifted its position in shares of Target by 5.6% during the third quarter. Westside Investment Management Inc. now owns 1,684 shares of the retailer’s stock worth $257,000 after purchasing an additional 90 shares during the last quarter. World Investment Advisors LLC boosted its stake in shares of Target by 142.5% during the third quarter. World Investment Advisors LLC now owns 6,585 shares of the retailer’s stock valued at $1,026,000 after purchasing an additional 3,870 shares during the period. Arvest Bank Trust Division bought a new position in shares of Target in the third quarter worth about $1,684,000. Finally, Wilmington Savings Fund Society FSB increased its stake in Target by 331.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 14,387 shares of the retailer’s stock worth $2,242,000 after buying an additional 11,054 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Gordon Haskett downgraded shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Bank of America dropped their price objective on Target from $160.00 to $145.00 and set a “buy” rating on the stock 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 report on Wednesday, March 5th. Telsey Advisory Group lowered their target price on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, KGI Securities set a $132.00 price target on Target in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $132.37.

Target Stock Performance

TGT opened at $96.71 on Friday. The company has a market cap of $44.06 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. 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’s 50-day moving average price is $105.58 and its 200-day moving average price is $127.75. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40.

Target (NYSE:TGT) last issued its quarterly 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. Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. As a group, equities analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.63%. Target’s payout ratio is presently 50.56%.

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.