Portland Investment Counsel Inc. bought a new position in shares of Target Co. (NYSE:TGT – Buy Rating) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,398 shares of the retailer’s stock, valued at approximately $207,000.
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A number of other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its holdings in Target by 20.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,177,540 shares of the retailer’s stock valued at $1,213,466,000 after buying an additional 1,401,559 shares during the period. Fisher Asset Management LLC grew its holdings in Target by 122,068.9% in the third quarter. Fisher Asset Management LLC now owns 4,793,906 shares of the retailer’s stock valued at $711,368,000 after buying an additional 4,789,982 shares during the period. FMR LLC boosted its holdings in Target by 27.5% in the second quarter. FMR LLC now owns 4,423,218 shares of the retailer’s stock valued at $624,690,000 after purchasing an additional 953,518 shares during the period. Franklin Resources Inc. boosted its holdings in Target by 2.0% in the second quarter. Franklin Resources Inc. now owns 4,394,714 shares of the retailer’s stock valued at $620,665,000 after buying an additional 85,405 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Target by 12.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,500,093 shares of the retailer’s stock valued at $530,570,000 after purchasing an additional 269,648 shares during the period. 78.86% of the shares are currently owned by hedge funds and other institutional investors.
Analytics upgrades and downloads
A number of research analysts have weighed in on TGT shares. KeyCorp cut their price target on shares of Target from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, November 17th. Telsey Advisory Group boosted their price target on shares of Target from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday. BMO Capital Markets downgraded shares of Target from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $190.00 to $165.00 in a research report on Thursday, November 17th. Robert W. Baird decreased their target price on shares of Target from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, November 17th. Finally, JPMorgan Chase & Co. Target cut their target price on shares of Target from $217.00 to $201.00 and set an “overweight” rating on the stock in a research report on Thursday, November 17th. Thirteen research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an “Average Buy” rating and an average price target of $182.30, according to MarketBeat.
Target Price Performance
TGT traded up $0.53 on Friday, hitting $166.03. The company had a trading volume of 1,141,544 shares compared to its average volume of 3,007,393 shares. The company has a fifty day moving average of $161.40 and a 200 day moving average of $161.29. The company has a market capitalization of $76.42 billion, a P/E ratio of 22.57, a PEG ratio of 1.77 and a beta of 1.04. The company has a current ratio of 0.86, a quick ratio of 0.14, and a debt-to-equity ratio of 1.29. Target Co. has a one year low of $137.16 and a one year high of $254.87.
Target Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Wednesday, February 15th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Tuesday, February 14th. This translates to a dividend of $4.32 on an annualized basis and a yield of 2.60%. Target’s dividend payout ratio is currently 59.18%.
Target Company Profile
(Get a rating)
Target Corp. deals with the operation and ownership of general merchandise stores. Offers a variety of foods including perishables, dry food, dairy products and frozen products. The company was founded in 1902 by George Draper Dayton and is headquartered in Minneapolis, MN.
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