Principal Financial Group Inc. Has $74.24 Million Stock Holdings in Target Co. (NYSE:TGT)

Principal Financial Group Inc. reduced its position in Target Co. (NYSE:TGT) by 13.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 549,177 shares of the retailer’s stock after selling 82,105 shares during the period. Principal Financial Group Inc. owned about 0.12% of Target worth $74,238,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans boosted its stake in shares of Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after acquiring an additional 490 shares during the period. Wilmington Savings Fund Society FSB boosted its position in Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares during the period. Northeast Financial Group Inc. acquired a new position in shares of Target in the fourth quarter valued at $1,566,000. D.A. Davidson & CO. raised its position in shares of Target by 8.6% in the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after purchasing an additional 9,510 shares during the period. Finally, Prana Capital Management LP lifted its stake in shares of Target by 47.5% during the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after buying an additional 69,885 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.5 %

Shares of TGT opened at $130.76 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The stock has a market capitalization of $59.92 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.94 and a beta of 1.15. The stock has a fifty day moving average of $134.75 and a 200-day moving average of $142.84.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 earnings per share. As a group, sell-side analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.43%. Target’s dividend payout ratio is presently 47.51%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. Bank of America lowered their target price on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. BMO Capital Markets decreased their price objective on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. Roth Mkm lowered their price objective on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Finally, Wells Fargo & Company reduced their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $157.70.

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.