Edge Capital Group LLC Increases Stock Position in Target Co. (NYSE:TGT)

Edge Capital Group LLC raised its position in shares of Target Co. (NYSE:TGT) by 15.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,700 shares of the retailer’s stock after purchasing an additional 4,558 shares during the period. Edge Capital Group LLC’s holdings in Target were worth $4,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Target by 7.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,734 shares of the retailer’s stock valued at $20,443,000 after acquiring an additional 8,823 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of Target by 9.6% during the third quarter. Forsta AP Fonden now owns 123,600 shares of the retailer’s stock valued at $19,264,000 after acquiring an additional 10,800 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Target by 4.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 155,730 shares of the retailer’s stock valued at $24,272,000 after acquiring an additional 6,501 shares in the last quarter. Goldstein Advisors LLC bought a new position in shares of Target during the third quarter valued at $200,000. Finally, Hamlin Capital Management LLC increased its holdings in shares of Target by 10.1% during the third quarter. Hamlin Capital Management LLC now owns 862,616 shares of the retailer’s stock valued at $134,447,000 after acquiring an additional 79,120 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $124.40 on Monday. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The stock has a market capitalization of $57.00 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.94 and a beta of 1.15. The stock has a fifty day simple moving average of $134.41 and a two-hundred day simple moving average of $142.80. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is currently 47.51%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday, November 20th. Evercore ISI reduced their price objective on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Bank of America reduced their price objective on Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. JPMorgan Chase & Co. reduced their price objective on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Finally, Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.70.

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.