Argent Advisors Inc. Boosts Stake in Target Co. (NYSE:TGT)

Argent Advisors Inc. grew its holdings in shares of Target Co. (NYSE:TGT – Get Rating) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,267 shares of the retailer’s stock after purchasing an additional 981 shares during the quarter. Target makes up 0.9% of Argent Advisors Inc.’s investment portfolio, making the stock its 25th largest holding. Argent Advisors Inc.’s holdings in Target were worth $1,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Plancorp LLC grew its holdings in Target by 2.1% during the 1st quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock valued at $535,000 after buying an additional 53 shares in the last quarter. Physicians Financial Services Inc. boosted its holdings in Target by 0.4% in the 2nd quarter. Physicians Financial Services Inc. now owns 14,882 shares of the retailer’s stock valued at $2,102,000 after purchasing an additional 59 shares during the period. Axxcess Wealth Management LLC grew its position in shares of Target by 3.4% during the 2nd quarter. Axxcess Wealth Management LLC now owns 1,921 shares of the retailer’s stock valued at $271,000 after purchasing an additional 63 shares in the last quarter. LexAurum Advisors LLC increased its holdings in shares of Target by 2.4% in the second quarter. LexAurum Advisors LLC now owns 2,738 shares of the retailer’s stock worth $387,000 after purchasing an additional 64 shares during the period. Finally, TrueWealth Advisors LLC boosted its stake in Target by 3.7% during the third quarter. TrueWealth Advisors LLC now owns 1,810 shares of the retailer’s stock valued at $269,000 after buying an additional 65 shares during the period. 78.86% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of NYSE:TGT traded down $2.06 during mid-day trading on Wednesday, reaching $170.08. 219,032 shares of the company traded hands, compared to its average volume of 3,164,116. The company’s 50 day moving average price is $156.47 and its 200-day moving average price is $159.74. The firm has a market cap of $78.28 billion, a PE ratio of 23.58, a PEG ratio of 3.09 and a beta of 1.03. Target Co. has a 52 week low of $137.16 and a 52 week high of $254.87. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.86 and a quick ratio of 0.14.

Target (NYSE:TGT – Get Rating) last announced its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.61). Target had a return on equity of 30.51% and a net margin of 3.17%. The firm had revenue of $26.12 billion during the quarter, compared to analysts’ expectations of $26.40 billion. During the same period last year, the company earned $3.03 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts expect that Target Co. will post 5.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Wednesday, February 15th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 14th. Target’s dividend payout ratio is currently 59.18%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered shares of Target from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $190.00 to $165.00 in a research report on Thursday, November 17th. StockNews.com assumed coverage on shares of Target in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. UBS Group reduced their price objective on Target from $205.00 to $194.00 and set a “buy” rating on the stock in a research note on Thursday, November 17th. Gordon Haskett lowered Target from a “buy” rating to a “hold” rating and set a $132.00 price objective for the company. in a research note on Wednesday, December 21st. Finally, Robert W. Baird dropped their price target on shares of Target from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, November 17th. Twelve analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.07.

About Target

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.