California Public Employees Retirement System Purchases 132,086 Shares of Target Co. (NYSE:TGT)

California Public Employees Retirement System increased its position in shares of Target Co. (NYSE:TGT) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,022,804 shares of the retailer’s stock after purchasing an additional 132,086 shares during the period. California Public Employees Retirement System owned 0.44% of Target worth $273,443,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Nicholas Company Inc. raised its holdings in Target by 20.5% during the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after acquiring an additional 9,485 shares during the period. River Road Asset Management LLC raised its stake in Target by 144.9% during the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after purchasing an additional 138,751 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in Target in the 4th quarter worth approximately $6,459,000. Wilmington Savings Fund Society FSB boosted its stake in Target by 25.0% in the 4th 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. Finally, Northeast Financial Group Inc. purchased a new stake in Target during the 4th quarter valued at approximately $1,566,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research reports. Jefferies Financial Group dropped their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Guggenheim lifted their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Roth Capital set a $122.00 price target on Target in a research note on Wednesday, March 5th. Finally, Evercore ISI reduced their price objective on Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $143.40.

Target Stock Down 2.7 %

Shares of NYSE TGT opened at $103.63 on Friday. Target Co. has a 52-week low of $101.76 and a 52-week high of $181.86. The firm has a market capitalization of $47.21 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.94 and a beta of 1.18. The stock has a 50 day moving average price of $122.96 and a 200 day moving average price of $136.46. 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 (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Sell-side analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.32%. Target’s dividend payout ratio is currently 50.56%.

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.