Shell Asset Management Co. Has $2.64 Million Stock Holdings in Target Co. (NYSE:TGT)

Shell Asset Management Co. trimmed its position in shares of Target Co. (NYSE:TGT) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,558 shares of the retailer’s stock after selling 243 shares during the quarter. Shell Asset Management Co.’s holdings in Target were worth $2,644,000 as of its most recent SEC filing.

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

Target Stock Performance

Shares of TGT opened at $98.56 on Friday. The stock’s 50-day simple moving average is $98.24 and its 200 day simple moving average is $122.04. The stock has a market capitalization of $44.78 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth 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. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40.

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

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given 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 4.55%. Target’s payout ratio is 50.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TGT. Telsey Advisory Group lowered their target price on Target from $145.00 to $130.00 and set an “outperform” rating for the company in a report on Friday. Jefferies Financial Group lowered their target price on Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Robert W. Baird downgraded Target from an “outperform” rating to a “neutral” rating and set a $110.00 target price for the company. in a report on Monday, April 7th. Evercore ISI lowered their target price on Target from $130.00 to $120.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, Stifel Nicolaus lowered their target price on Target from $130.00 to $120.00 and set a “hold” rating for the company in a report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and an average target price of $128.13.

Target Company 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.