AGF Management Ltd. Takes Position in Target Co. (NYSE:TGT)

AGF Management Ltd. purchased a new position in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,845 shares of the retailer’s stock, valued at approximately $925,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC acquired a new stake in Target in the 3rd quarter worth approximately $28,000. MCF Advisors LLC boosted its holdings in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after acquiring an additional 163 shares during the period. Raleigh Capital Management Inc. grew its position 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 purchasing an additional 135 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Target in the third quarter worth about $36,000. Finally, OFI Invest Asset Management bought a new stake in Target during the 4th quarter valued at approximately $36,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $104.71 on Friday. Target Co. has a 1 year low of $103.46 and a 1 year high of $181.86. 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 firm’s 50 day moving average is $129.35 and its 200-day moving average is $139.88. The firm has a market capitalization of $47.98 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Sell-side analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TGT. Gordon Haskett lowered Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. UBS Group reduced their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Evercore ISI decreased their target price on Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus cut their price target on Target from $145.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $145.87.

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.