Cambridge Financial Group Inc. Buys Shares of 47,151 Target Co. (NYSE:TGT)

Cambridge Financial Group Inc. purchased a new position in shares of Target Co. (NYSE:TGT) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 47,151 shares of the retailer’s stock, valued at approximately $6,374,000. Target comprises approximately 2.6% of Cambridge Financial Group Inc.’s holdings, making the stock its 26th largest position.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Target during the 4th quarter valued at about $757,892,000. State Street Corp grew its position in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Target during the 4th quarter worth approximately $297,122,000. Two Sigma Advisers LP raised its position in shares of Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after purchasing an additional 1,502,200 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in Target by 773.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock valued at $129,795,000 after buying an additional 737,384 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

TGT opened at $103.63 on Friday. The company has a market capitalization of $47.21 billion, a P/E ratio of 10.99, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a 1-year low of $101.76 and a 1-year high of $181.86. The company has a 50-day moving average of $122.96 and a 200-day moving average of $136.54. 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 (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Equities analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analyst Ratings Changes

A number of research firms recently commented on TGT. Oppenheimer dropped their price objective on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their price objective on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. UBS Group reduced their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company cut their price target on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $143.40.

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.