Pitcairn Co. Has $926,000 Stock Holdings in Target Co. (NYSE:TGT)

Pitcairn Co. grew its holdings in Target Co. (NYSE:TGT) by 13.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,847 shares of the retailer’s stock after acquiring an additional 807 shares during the period. Pitcairn Co.’s holdings in Target were worth $926,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Arete Wealth Advisors LLC bought a new stake in Target during the 4th quarter valued at approximately $378,000. World Investment Advisors boosted its position in shares of Target by 12.5% in the fourth quarter. World Investment Advisors now owns 7,408 shares of the retailer’s stock valued at $1,001,000 after acquiring an additional 823 shares during the period. Westpac Banking Corp grew its stake in shares of Target by 1.6% in the fourth quarter. Westpac Banking Corp now owns 11,649 shares of the retailer’s stock worth $1,575,000 after acquiring an additional 187 shares during the last quarter. OneAscent Financial Services LLC bought a new position in Target during the fourth quarter worth $226,000. Finally, Groupama Asset Managment raised its stake in Target by 33.5% during the 4th quarter. Groupama Asset Managment now owns 14,625 shares of the retailer’s stock valued at $1,975,000 after purchasing an additional 3,668 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Target stock opened at $95.70 on Friday. The business’s 50-day simple moving average is $119.41 and its 200 day simple moving average is $134.85. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a market cap of $43.60 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 1.94 and a beta of 1.28. Target Co. has a 12-month low of $90.62 and a 12-month high of $173.05.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, research analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is currently 50.56%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Sanford C. Bernstein restated a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. Citigroup reduced their price objective on Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Stifel Nicolaus lowered their price objective on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. reduced their target price on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $140.24.

Target Company 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.