Oak Asset Management LLC Lowers Stock Position in Target Co. (NYSE:TGT)

Oak Asset Management LLC cut its position in shares of Target Co. (NYSE:TGTFree Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,706 shares of the retailer’s stock after selling 2,320 shares during the period. Target accounts for 1.3% of Oak Asset Management LLC’s holdings, making the stock its 23rd biggest position. Oak Asset Management LLC’s holdings in Target were worth $3,376,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Target by 1.6% during the third quarter. Vanguard Group Inc. now owns 44,527,706 shares of the retailer’s stock worth $4,923,428,000 after buying an additional 702,565 shares in the last quarter. State Street Corp raised its position in Target by 4.6% during the first quarter. State Street Corp now owns 34,570,634 shares of the retailer’s stock worth $5,725,904,000 after acquiring an additional 1,529,881 shares during the period. Moneta Group Investment Advisors LLC raised its position in Target by 95,980.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after acquiring an additional 18,518,448 shares during the period. Geode Capital Management LLC raised its position in Target by 1.0% during the first quarter. Geode Capital Management LLC now owns 8,300,283 shares of the retailer’s stock worth $1,371,516,000 after acquiring an additional 80,027 shares during the period. Finally, FMR LLC raised its position in Target by 26.5% during the third quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock worth $747,699,000 after acquiring an additional 1,415,900 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock valued at $8,819,598 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

Target Stock Up 0.5 %

TGT stock traded up $0.92 during midday trading on Thursday, reaching $176.41. 214,226 shares of the company were exchanged, compared to its average volume of 3,861,763. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The stock’s 50-day simple moving average is $157.71 and its 200 day simple moving average is $136.52. The company has a market cap of $81.45 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14.

Target (NYSE:TGTGet Free Report) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter last year, the company earned $1.89 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts forecast that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.49%. Target’s payout ratio is 49.27%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Gordon Haskett upped their price objective on shares of Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets upped their price objective on shares of Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Barclays upped their price objective on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Finally, Bank of America increased their target price on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.04.

Read Our Latest Research Report on Target

About Target

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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