TD Asset Management Inc. Increases Stake in Target Co. (TGT)

TD Asset Management Inc. grew its position in shares of Target Co. (NYSE:TGT) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218,244 shares of the retailer’s stock after buying an additional 2,599 shares during the quarter. TD Asset Management Inc.’s holdings in Target were worth $14,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can lifted its position in shares of Target by 3.0% in the 3rd quarter. Bank of Montreal Can now owns 1,424,112 shares of the retailer’s stock worth $125,620,000 after purchasing an additional 41,788 shares during the period. Capital Investment Advisors LLC lifted its position in shares of Target by 7.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 58,289 shares of the retailer’s stock worth $5,142,000 after purchasing an additional 4,011 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in shares of Target in the 3rd quarter worth approximately $247,000. First Hawaiian Bank purchased a new stake in shares of Target in the 3rd quarter worth approximately $1,755,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Target by 16.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 253,917 shares of the retailer’s stock worth $22,398,000 after purchasing an additional 35,647 shares during the period. Institutional investors and hedge funds own 86.72% of the company’s stock.

Target stock traded down $1.00 during mid-day trading on Monday, reaching $69.88. 1,701,671 shares of the company traded hands, compared to its average volume of 4,164,967. The company has a current ratio of 0.83, a quick ratio of 0.13 and a debt-to-equity ratio of 1.10. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $90.39. The firm has a market capitalization of $36.99 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.12 and a beta of 0.72.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, November 20th. The retailer reported $1.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.02). Target had a net margin of 4.31% and a return on equity of 25.02%. The company had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Target Co. will post 5.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 20th will be paid a dividend of $0.64 per share. The ex-dividend date is Tuesday, February 19th. This represents a $2.56 dividend on an annualized basis and a yield of 3.66%. Target’s payout ratio is 54.35%.

Several equities research analysts have recently weighed in on TGT shares. ValuEngine cut shares of Target from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. KeyCorp began coverage on shares of Target in a research report on Friday, November 16th. They issued an “overweight” rating and a $110.00 price target for the company. Credit Suisse Group decreased their target price on shares of Target from $94.00 to $79.00 and set an “outperform” rating for the company in a research report on Wednesday, November 21st. Tigress Financial reissued a “buy” rating on shares of Target in a research report on Thursday, January 17th. Finally, Buckingham Research began coverage on shares of Target in a research report on Thursday, November 15th. They set a “buy” rating and a $102.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $86.92.

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Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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