Sequoia Financial Advisors LLC Grows Position in Target Co. (NYSE:TGT)

Sequoia Financial Advisors LLC boosted its holdings in Target Co. (NYSE:TGT - Free Report) by 87.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,732 shares of the retailer's stock after purchasing an additional 24,610 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Target were worth $7,128,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TGT. Impax Asset Management Group plc increased its holdings in Target by 8.6% in the third quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer's stock worth $37,632,000 after purchasing an additional 19,095 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Target in the third quarter worth approximately $174,000. Chartwell Investment Partners LLC acquired a new stake in Target in the third quarter valued at approximately $1,247,000. Venturi Wealth Management LLC grew its stake in Target by 249.6% in the third quarter. Venturi Wealth Management LLC now owns 2,318 shares of the retailer's stock valued at $361,000 after acquiring an additional 1,655 shares during the period. Finally, Harbour Investments Inc. grew its stake in Target by 2.9% in the third quarter. Harbour Investments Inc. now owns 7,345 shares of the retailer's stock valued at $1,145,000 after acquiring an additional 205 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TGT. Sanford C. Bernstein reissued a "market perform" rating on shares of Target in a research note on Wednesday, March 5th. Telsey Advisory Group reduced their price objective on Target from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Target from $146.00 to $140.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Daiwa Capital Markets cut Target from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Finally, HSBC cut Target from a "buy" rating to a "hold" rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $145.87.

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Target Stock Performance

Shares of TGT traded up $0.04 during mid-day trading on Friday, hitting $104.54. The stock had a trading volume of 5,498,360 shares, compared to its average volume of 4,782,134. The firm has a market cap of $47.90 billion, a P/E ratio of 11.08, a PEG ratio of 1.94 and a beta of 1.18. The business has a fifty day moving average price of $129.97 and a 200-day moving average price of $140.26. 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 Co. has a 52 week low of $103.51 and a 52 week high of $181.86.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. On average, equities research analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.29%. Target's dividend payout ratio (DPR) is 50.56%.

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.