Strive Asset Management LLC Makes New Investment in Target Co. (NYSE:TGT)

Strive Asset Management LLC bought a new position in shares of Target Co. (NYSE:TGT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,047 shares of the retailer’s stock, valued at approximately $547,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Target in the fourth quarter valued at about $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter valued at about $30,000. MCF Advisors LLC grew its position in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, Legacy Investment Solutions LLC grew its position in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after buying an additional 85 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Shares of Target stock opened at $98.56 on Friday. Target Co. has a 52 week low of $87.35 and a 52 week high of $167.40. The stock has a market capitalization of $44.78 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a fifty day moving average of $98.24 and a two-hundred day moving average of $121.85.

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, beating the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. As a group, equities research analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 4.55%. Target’s dividend payout ratio (DPR) is 50.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TGT shares. DA Davidson decreased their target price on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Citigroup reissued a “neutral” rating and set a $97.00 target price (up from $95.00) on shares of Target in a research report on Wednesday. Roth Mkm restated a “neutral” rating and set a $122.00 price target (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Mizuho started coverage on shares of Target in a research note on Friday, April 11th. They set a “neutral” rating and a $92.00 price target for the company. Finally, UBS Group cut their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Target currently has an average rating of “Hold” and a consensus price target of $128.13.

About Target

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.