Canal Capital Management LLC Raises Stake in Target Co. (TGT)

Canal Capital Management LLC lifted its stake in shares of Target Co. (NYSE:TGT) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,841 shares of the retailer’s stock after acquiring an additional 1,387 shares during the period. Target makes up about 1.2% of Canal Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Canal Capital Management LLC’s holdings in Target were worth $1,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TGT. AQR Capital Management LLC increased its position in shares of Target by 114.5% during the third quarter. AQR Capital Management LLC now owns 10,474,816 shares of the retailer’s stock worth $923,984,000 after acquiring an additional 5,590,395 shares in the last quarter. Bank of Montreal Can increased its position in shares of Target by 61.8% during the fourth quarter. Bank of Montreal Can now owns 2,304,536 shares of the retailer’s stock worth $152,306,000 after acquiring an additional 880,424 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Target by 61.7% during the third quarter. OppenheimerFunds Inc. now owns 2,025,519 shares of the retailer’s stock worth $178,671,000 after acquiring an additional 773,180 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Target by 54.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,028,126 shares of the retailer’s stock worth $178,899,000 after acquiring an additional 717,588 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Target by 17.2% in the third quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock valued at $403,145,000 after purchasing an additional 671,121 shares in the last quarter. 83.24% of the stock is owned by institutional investors.

Shares of Target stock opened at $70.88 on Monday. Target Co. has a twelve month low of $60.15 and a twelve month high of $90.39. The company has a quick ratio of 0.13, a current ratio of 0.83 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $36.99 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, November 20th. The retailer reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.02). Target had a return on equity of 25.02% and a net margin of 4.31%. The business had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm earned $0.91 EPS. Target’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts expect that Target Co. will post 5.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 20th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, February 19th. Target’s dividend payout ratio (DPR) is 54.35%.

TGT has been the subject of a number of analyst reports. KeyCorp initiated coverage on shares of Target in a research report on Friday, November 16th. They issued an “overweight” rating and a $110.00 target price for the company. Zacks Investment Research downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Morgan Stanley decreased their target price on shares of Target from $70.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, November 23rd. ValuEngine downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, Deutsche Bank set a $82.00 target price on shares of Target and gave the company a “hold” rating in a research report on Wednesday, November 21st. 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 assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $86.92.

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About Target

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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