MMA Asset Management LLC Makes New $320,000 Investment in Target Co. (NYSE:TGT)

MMA Asset Management LLC acquired a new position in Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,369 shares of the retailer’s stock, valued at approximately $320,000.

Several other hedge funds have also bought and sold shares of the stock. Cynosure Group LLC boosted its position in Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares in the last quarter. Financial Advocates Investment Management boosted its position in Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares in the last quarter. Hancock Whitney Corp boosted its position in Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares in the last quarter. Eagle Bluffs Wealth Management LLC boosted its position in Target by 1.1% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after purchasing an additional 73 shares in the last quarter. Finally, Proffitt & Goodson Inc. boosted its position in Target by 2.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 3,460 shares of the retailer’s stock worth $539,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Up 1.5 %

Shares of NYSE:TGT opened at $124.37 on Friday. The business has a 50-day moving average price of $133.77 and a 200 day moving average price of $142.39. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $56.99 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.94 and a beta of 1.15. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Wednesday, February 12th were given 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 of this dividend was Wednesday, February 12th. Target’s payout ratio is 47.51%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Oppenheimer reiterated an “outperform” rating and set a $165.00 target price on shares of Target in a research report on Monday, November 25th. Bank of America decreased their target price on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. Finally, Citigroup increased their target price on Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $157.93.

Target Profile

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.