Target Co. (NYSE:TGT) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky increased its holdings in Target Co. (NYSE:TGT) by 46.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,687 shares of the retailer’s stock after buying an additional 4,360 shares during the quarter. Independence Bank of Kentucky’s holdings in Target were worth $1,850,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC acquired a new position in shares of Target during the third quarter valued at $28,000. Wolff Wiese Magana LLC increased its stake in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares during the period. MCF Advisors LLC raised its position in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Target during the third quarter valued at approximately $36,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TGT shares. TD Cowen cut their target price on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Citigroup upped their price objective on Target from $130.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets lowered their price objective on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $157.70.

Target Price Performance

NYSE TGT opened at $137.82 on Friday. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The stock’s 50-day moving average is $134.80 and its two-hundred day moving average is $144.49. The firm has a market cap of $63.15 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 2.28 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.25%. Target’s payout ratio is presently 47.51%.

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.