Westpac Banking Corp Raises Holdings in Target Co. (TGT)

Westpac Banking Corp grew its stake in Target Co. (NYSE:TGT) by 223.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,625 shares of the retailer’s stock after buying an additional 73,000 shares during the quarter. Westpac Banking Corp’s holdings in Target were worth $6,892,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TGT. Heritage Trust Co lifted its holdings in shares of Target by 129.7% in the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after buying an additional 1,000 shares during the period. SevenBridge Financial Group LLC lifted its holdings in shares of Target by 2,200.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after buying an additional 1,826 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of Target by 109.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock valued at $141,000 after buying an additional 1,310 shares during the period. Sandy Spring Bank lifted its holdings in shares of Target by 6.7% in the 2nd quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock valued at $155,000 after buying an additional 185 shares during the period. Finally, Rowland & Co. Investment Counsel ADV lifted its holdings in shares of Target by 4.7% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock valued at $155,000 after buying an additional 132 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Shares of Target Co. (TGT) opened at $78.10 on Friday. Target Co. has a 52 week low of $48.56 and a 52 week high of $78.17. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $42,344.31, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 4.10 and a beta of 0.63.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The company had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. During the same period in the previous year, the business earned $1.04 EPS. Target’s quarterly revenue was up 1.4% on a year-over-year basis. equities analysts anticipate that Target Co. will post 4.72 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 annualized dividend and a yield of 3.18%. Target’s dividend payout ratio (DPR) is currently 51.88%.

Several equities analysts have recently issued reports on TGT shares. Moffett Nathanson started coverage on Target in a report on Monday, December 4th. They issued a “neutral” rating for the company. Stifel Nicolaus reissued a “hold” rating and issued a $75.00 price objective on shares of Target in a report on Thursday, January 11th. Telsey Advisory Group boosted their price objective on Target from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Vetr cut Target from a “hold” rating to a “sell” rating and set a $70.45 price objective for the company. in a report on Thursday, January 11th. Finally, Wells Fargo & Co started coverage on Target in a report on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. Target currently has a consensus rating of “Hold” and an average price target of $65.66.

In other Target news, Director Roxanne S. Austin sold 4,705 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

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Target Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Institutional Ownership by Quarter for Target (NYSE:TGT)

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