Peloton Wealth Strategists Invests $1.92 Million in Target Co. (NYSE:TGT)

Peloton Wealth Strategists purchased a new position in Target Co. (NYSE:TGT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,190 shares of the retailer’s stock, valued at approximately $1,918,000.

A number of other hedge funds also recently added to or reduced their stakes in TGT. State Street Corp lifted its stake in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. Two Sigma Advisers LP lifted its stake in Target by 173.2% in the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during the period. FMR LLC lifted its stake in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in Target by 773.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after acquiring an additional 737,384 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Target in the third quarter worth about $106,493,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TGT. Sanford C. Bernstein upped their price objective on shares of Target from $139.00 to $142.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 28th. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a research note on Saturday, February 22nd. JPMorgan Chase & Co. increased their price target on shares of Target from $139.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday. Roth Mkm decreased their price target on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $157.93.

Target Price Performance

Shares of NYSE:TGT opened at $122.80 on Friday. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company’s 50 day moving average is $133.91 and its 200 day moving average is $142.42. 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 cap of $56.27 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.65%. Target’s dividend payout ratio (DPR) is presently 47.51%.

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.