Target Co. (NYSE:TGT) Stake Reduced by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC decreased its holdings in shares of Target Co. (NYSE:TGT) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 277,320 shares of the retailer’s stock after selling 14,680 shares during the period. Ceredex Value Advisors LLC’s holdings in Target were worth $37,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in Target in the fourth quarter worth approximately $29,000. Bernard Wealth Management Corp. bought a new stake in shares of Target during the 4th quarter worth $30,000. MCF Advisors LLC grew its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares during the last quarter. Raleigh Capital Management Inc. raised its position in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC lifted its holdings in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Down 2.7 %

NYSE:TGT opened at $92.14 on Wednesday. The company’s 50 day moving average is $111.35 and its 200-day moving average is $130.99. 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 12 month low of $87.35 and a 12 month high of $169.09. The firm has a market cap of $41.98 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $30.83 billion. Equities analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 yield of 4.86%. Target’s payout ratio is 50.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TGT shares. Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. DA Davidson dropped their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Roth Capital set a $122.00 price target on shares of Target in a research report on Wednesday, March 5th. Mizuho initiated coverage on shares of Target in a research note on Friday, April 11th. They issued a “neutral” rating and a $92.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $134.57.

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.