Target Co. (TGT) Holdings Reduced by Azimuth Capital Management LLC
Azimuth Capital Management LLC decreased its position in shares of Target Co. (NYSE:TGT) by 10.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,501 shares of the retailer’s stock after selling 10,508 shares during the period. Azimuth Capital Management LLC’s holdings in Target were worth $6,422,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in Target by 3.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 81,938 shares of the retailer’s stock worth $5,346,000 after acquiring an additional 2,765 shares during the period. SNS Financial Group LLC raised its position in shares of Target by 11.9% during the fourth quarter. SNS Financial Group LLC now owns 15,239 shares of the retailer’s stock valued at $994,000 after buying an additional 1,623 shares during the last quarter. Doliver Capital Advisors LP bought a new stake in shares of Target during the fourth quarter valued at approximately $202,000. Zeke Capital Advisors LLC raised its position in shares of Target by 11.8% during the fourth quarter. Zeke Capital Advisors LLC now owns 25,293 shares of the retailer’s stock valued at $1,650,000 after buying an additional 2,672 shares during the last quarter. Finally, Mutual of Omaha Bank Wealth Management raised its position in shares of Target by 27.4% during the fourth quarter. Mutual of Omaha Bank Wealth Management now owns 22,843 shares of the retailer’s stock valued at $1,491,000 after buying an additional 4,913 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Target from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. Credit Suisse Group set a $86.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Tuesday, May 22nd. MKM Partners set a $91.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Thursday, May 24th. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Finally, Guggenheim reiterated a “hold” rating on shares of Target in a research report on Wednesday, May 23rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $74.16.
NYSE TGT opened at $72.89 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.90 and a debt-to-equity ratio of 1.18. The firm has a market cap of $38.43 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 2.26 and a beta of 0.71. Target Co. has a 52 week low of $48.56 and a 52 week high of $78.70.
Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 23rd. The retailer reported $1.32 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.06). The firm had revenue of $16.78 billion for the quarter, compared to analysts’ expectations of $16.58 billion. Target had a return on equity of 23.34% and a net margin of 4.09%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. analysts predict that Target Co. will post 5.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Wednesday, May 16th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, May 15th. Target’s payout ratio is 52.65%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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