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.
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.
TRADEMARK VIOLATION WARNING: “Canal Capital Management LLC Raises Stake in Target Co. (TGT)” was reported by Markets Daily and is owned by of Markets Daily. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.themarketsdaily.com/2019/02/11/canal-capital-management-llc-raises-stake-in-target-co-tgt.html.
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.
Recommended Story: How analysts view the yield curve
Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.