Exchange Traded Concepts LLC Buys 102,470 Shares of Target Co. (NYSE:TGT)

Exchange Traded Concepts LLC boosted its stake in shares of Target Co. (NYSE:TGT) by 82.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,186 shares of the retailer’s stock after buying an additional 102,470 shares during the period. Target makes up about 0.6% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its 24th largest holding. Exchange Traded Concepts LLC’s holdings in Target were worth $30,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Legacy Investment Solutions LLC bought a new position in Target in the 3rd quarter worth about $28,000. Wolff Wiese Magana LLC grew its stake in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares during the period. MCF Advisors LLC grew its position in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Target during the third quarter valued at $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 0.3 %

Shares of NYSE TGT opened at $136.86 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market cap of $62.71 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 2.21 and a beta of 1.16. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The business’s 50 day moving average is $134.98 and its two-hundred day moving average is $144.94.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same quarter last year, the firm posted $2.10 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts predict that Target Co. will post 8.68 EPS for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BMO Capital Markets cut their price target on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. 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 report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $165.00 price target on shares of Target in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $158.57.

Target Company 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.