Crestline Management LP Takes Position in Target Co. (NYSE:TGT)

Crestline Management LP acquired a new position in Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 20,557 shares of the retailer’s stock, valued at approximately $2,779,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TGT. Capital World Investors lifted its position in Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares during the last quarter. FMR LLC increased its stake in shares of Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock worth $1,532,769,000 after buying an additional 1,358,348 shares during the period. Geode Capital Management LLC boosted its position in Target by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after buying an additional 470,990 shares during the period. Norges Bank bought a new stake in Target in the 4th quarter worth $757,892,000. Finally, Northern Trust Corp increased its position in shares of Target by 16.3% in the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer’s stock valued at $726,814,000 after acquiring an additional 754,883 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT opened at $95.68 on Thursday. The firm has a fifty day simple moving average of $100.76 and a two-hundred day simple moving average of $124.54. The firm has a market cap of $43.47 billion, a PE ratio of 10.15, a P/E/G ratio of 1.94 and a beta of 1.27. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40.

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

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.68%. Target’s dividend payout ratio (DPR) is 50.56%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho started coverage on shares of Target in a report on Friday, April 11th. They set a “neutral” rating and a $92.00 target price for the company. KGI Securities set a $132.00 price objective on Target in a research report on Wednesday, March 5th. Guggenheim upped their target price on Target from $145.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Roth Mkm reaffirmed a “neutral” rating and issued a $122.00 price target (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Finally, Roth Capital set a $122.00 price objective on shares of Target in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $132.37.

Target 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.