Viking Fund Management LLC Trims Stake in Target Co. (TGT)

Viking Fund Management LLC cut its holdings in Target Co. (NYSE:TGT) by 41.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,000 shares of the retailer’s stock after selling 17,000 shares during the period. Viking Fund Management LLC’s holdings in Target were worth $1,566,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TGT. Heritage Trust Co grew its holdings in Target by 129.7% during the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after purchasing an additional 1,000 shares during the last quarter. SevenBridge Financial Group LLC grew its holdings in Target by 2,200.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after purchasing an additional 1,826 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in Target by 109.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock valued at $141,000 after purchasing an additional 1,310 shares during the last quarter. Sandy Spring Bank grew its holdings in Target by 6.7% during the 2nd quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock valued at $155,000 after purchasing an additional 185 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV grew its holdings in Target by 4.7% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock valued at $155,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

In other news, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.61, for a total value of $294,580.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Several brokerages recently commented on TGT. Sanford C. Bernstein set a $65.00 price target on shares of Target and gave the company a “buy” rating in a report on Thursday, December 14th. Barclays set a $45.00 price target on shares of Target and gave the company a “sell” rating in a report on Wednesday, November 15th. MKM Partners set a $77.00 price target on shares of Target and gave the company a “buy” rating in a report on Thursday, December 14th. Stifel Nicolaus cut their price target on shares of Target from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Thursday, November 16th. Finally, Vetr upgraded shares of Target from a “buy” rating to a “strong-buy” rating and set a $63.69 price target on the stock in a report on Monday, November 27th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $65.66.

Shares of Target Co. (TGT) opened at $78.10 on Friday. The stock has a market cap of $42,344.31, a PE ratio of 16.34, a price-to-earnings-growth ratio of 4.10 and a beta of 0.63. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. Target Co. has a 52-week low of $48.56 and a 52-week high of $78.17.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion during the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. equities research analysts anticipate that Target Co. will post 4.72 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 annualized dividend and a dividend yield of 3.18%. Target’s payout ratio is presently 51.88%.

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Target Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Institutional Ownership by Quarter for Target (NYSE:TGT)

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