Rockefeller Capital Management L.P. Boosts Stock Holdings in Target Corporation $TGT

Rockefeller Capital Management L.P. raised its stake in Target Corporation (NYSE:TGT) by 33.5% during the second quarter, HoldingsChannel.com reports. The fund owned 147,629 shares of the retailer’s stock after purchasing an additional 37,065 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Target were worth $14,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TGT. Kozak & Associates Inc. increased its holdings in shares of Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new position in Target during the 2nd quarter valued at approximately $29,000. WPG Advisers LLC bought a new stake in Target in the 1st quarter worth approximately $32,000. Finally, Global Assets Advisory LLC bought a new stake in Target in the 2nd quarter worth approximately $31,000. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group lowered their target price on Target from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 21st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $110.00 price objective on shares of Target in a research note on Friday, November 14th. Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of Target in a report on Monday, October 27th. Bank of America restated an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Finally, Evercore ISI lowered their price target on Target from $100.00 to $95.00 and set an “in-line” rating for the company in a research report on Monday. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $108.55.

Target Price Performance

TGT opened at $88.78 on Wednesday. The business has a fifty day moving average of $90.43 and a 200 day moving average of $96.09. The stock has a market cap of $40.34 billion, a P/E ratio of 10.35, a PEG ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $2.57 earnings per share. As a group, sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is 53.15%.

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.