ProVise Management Group LLC Takes $226,000 Position in Target Co. (TGT)

ProVise Management Group LLC purchased a new position in shares of Target Co. (NYSE:TGT) during the fourth quarter, HoldingsChannel reports. The firm purchased 3,465 shares of the retailer’s stock, valued at approximately $226,000.

A number of other hedge funds have also modified their holdings of TGT. American Century Companies Inc. boosted its position in Target by 45.1% during the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock worth $309,101,000 after purchasing an additional 1,629,222 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new position in shares of Target in the third quarter valued at approximately $65,948,000. Dimensional Fund Advisors LP lifted its position in shares of Target by 49.7% in the third quarter. Dimensional Fund Advisors LP now owns 3,186,874 shares of the retailer’s stock valued at $188,052,000 after acquiring an additional 1,058,000 shares in the last quarter. Hamlin Capital Management LLC purchased a new position in shares of Target in the fourth quarter valued at approximately $60,860,000. Finally, Alps Advisors Inc. lifted its position in shares of Target by 6,085.9% in the fourth quarter. Alps Advisors Inc. now owns 794,583 shares of the retailer’s stock valued at $51,847,000 after acquiring an additional 781,738 shares in the last quarter. Institutional investors own 87.85% of the company’s stock.

Shares of Target Co. (NYSE TGT) opened at $75.35 on Thursday. Target Co. has a fifty-two week low of $48.56 and a fifty-two week high of $78.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The company has a market capitalization of $40,159.15, a P/E ratio of 15.39, a P/E/G ratio of 3.49 and a beta of 0.76.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The firm had revenue of $16.67 billion during the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. research analysts forecast that Target Co. will post 4.72 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 annualized dividend and a dividend yield of 3.29%. Target’s dividend payout ratio is presently 51.88%.

Several equities analysts have recently weighed in on the company. Vetr upgraded Target from a “sell” rating to a “hold” rating and set a $72.52 target price on the stock in a research report on Monday, February 5th. Cowen set a $80.00 target price on Target and gave the company a “hold” rating in a research report on Thursday, February 8th. Robert W. Baird upgraded Target from a “neutral” rating to an “outperform” rating and raised their target price for the company from $75.00 to $85.00 in a research report on Wednesday. ValuEngine upgraded Target from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus set a $60.00 target price on Target and gave the company a “hold” rating in a research report on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $68.36.

In other Target news, Director Roxanne S. Austin sold 4,705 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie A. Lundquist sold 3,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the sale, the insider now directly owns 16,906 shares of the company’s stock, valued at approximately $1,320,020.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,262 shares of company stock valued at $1,185,484. Insiders own 0.25% of the company’s stock.

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Target Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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