State of Wisconsin Investment Board cut its holdings in Target Co. (NYSE:TGT) by 6.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 560,085 shares of the retailer’s stock after selling 39,013 shares during the quarter. State of Wisconsin Investment Board’s holdings in Target were worth $36,546,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in TGT. Heritage Trust Co boosted its position in shares of Target by 129.7% in the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after buying an additional 1,000 shares in the last quarter. SevenBridge Financial Group LLC boosted its position in shares of Target by 2,200.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after buying an additional 1,826 shares in the last quarter. Security Asset Management purchased a new stake in shares of Target in the 4th quarter worth about $115,000. First Mercantile Trust Co. purchased a new stake in shares of Target in the 4th quarter worth about $124,000. Finally, Jacobi Capital Management LLC lifted its holdings in Target by 109.8% in 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 in the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.
A number of research analysts have issued reports on TGT shares. Sanford C. Bernstein set a $65.00 target price on shares of Target and gave the company a “buy” rating in a report on Thursday, December 14th. MKM Partners set a $77.00 target price on shares of Target and gave the company a “buy” rating in a report on Thursday, December 14th. Vetr lowered shares of Target from a “strong-buy” rating to a “buy” rating and set a $64.00 target price on the stock. in a report on Monday, November 20th. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Barclays upgraded shares of Target from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $45.00 to $70.00 in a report on Friday, January 5th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $69.56.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares of the company’s stock, valued at approximately $1,320,020.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert M. Harrison sold 8,557 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $76.74, for a total transaction of $656,664.18. Following the transaction, the insider now directly owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,262 shares of company stock valued at $1,185,484. Corporate insiders own 0.25% of the company’s stock.
Target Co. (NYSE:TGT) opened at $75.70 on Friday. Target Co. has a one year low of $48.56 and a one year high of $78.70. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. The company has a market cap of $41,148.47, a PE ratio of 15.84, a PEG ratio of 3.57 and a beta of 0.76.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s dividend payout ratio is currently 51.88%.
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.
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