Geode Capital Management LLC Has $1.33 Billion Stock Position in Target Co. (NYSE:TGT)

Geode Capital Management LLC boosted its stake in Target Co. (NYSE:TGT) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,885,015 shares of the retailer’s stock after purchasing an additional 470,990 shares during the quarter. Geode Capital Management LLC owned about 2.16% of Target worth $1,332,317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TGT. Legacy Investment Solutions LLC bought a new stake in shares of Target during the 3rd quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in Target during the fourth quarter valued at approximately $29,000. MCF Advisors LLC boosted its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. increased 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 valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Target during the 4th quarter worth $36,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $104.37 on Wednesday. The firm has a market capitalization of $47.55 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.94 and a beta of 1.18. The firm’s 50-day moving average price is $121.72 and its 200-day moving average price is $135.75. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 1-year low of $100.50 and a 1-year high of $177.89.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Equities research analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.29%. Target’s payout ratio is 50.56%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com raised Target from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Roth Mkm reissued a “neutral” rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Evercore ISI decreased their target price on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Bank of America dropped their price target on Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Target has an average rating of “Hold” and an average price target of $142.90.

Target 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.