Summit X LLC Invests $704,000 in Target Co. (NYSE:TGT)

Summit X LLC bought a new position in shares of Target Co. (NYSE:TGT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,209 shares of the retailer’s stock, valued at approximately $704,000.

Several other large investors have also recently added to or reduced their stakes in TGT. Impax Asset Management Group plc raised its holdings in Target by 8.6% during the third quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer’s stock worth $37,632,000 after purchasing an additional 19,095 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Target by 3.2% during the third quarter. Verdence Capital Advisors LLC now owns 3,358 shares of the retailer’s stock worth $523,000 after purchasing an additional 103 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Target by 20.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 3,777 shares of the retailer’s stock worth $589,000 after purchasing an additional 645 shares in the last quarter. Baker Avenue Asset Management LP increased its holdings in Target by 13.8% in the third quarter. Baker Avenue Asset Management LP now owns 4,452 shares of the retailer’s stock valued at $694,000 after buying an additional 541 shares in the last quarter. Finally, Tyler Stone Wealth Management increased its holdings in Target by 56.1% in the third quarter. Tyler Stone Wealth Management now owns 2,242 shares of the retailer’s stock valued at $349,000 after buying an additional 806 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Target stock opened at $112.88 on Wednesday. The stock’s 50 day simple moving average is $131.18 and its two-hundred day simple moving average is $140.74. 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 stock has a market cap of $51.72 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a fifty-two week low of $111.84 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business 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%. As a group, analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Wednesday, February 12th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s dividend payout ratio (DPR) is currently 50.56%.

Analysts Set New Price Targets

TGT has been the subject of a number of research analyst reports. Daiwa America cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. BMO Capital Markets dropped their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and dropped their price target for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. The Goldman Sachs Group dropped their price target on shares of Target from $166.00 to $142.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Telsey Advisory Group dropped their price target on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus target price of $145.87.

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.