Fisher Asset Management LLC Reduces Position in Target Co. (NYSE:TGT)

Fisher Asset Management LLC lessened its holdings in shares of Target Co. (NYSE:TGT) by 56.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,561 shares of the retailer’s stock after selling 14,797 shares during the period. Fisher Asset Management LLC’s holdings in Target were worth $1,647,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TGT. Private Wealth Management Group LLC purchased a new stake in shares of Target in the 4th quarter valued at approximately $29,000. Rakuten Securities Inc. purchased a new stake in shares of Target in the 4th quarter valued at approximately $29,000. Scarborough Advisors LLC purchased a new stake in shares of Target in the 4th quarter valued at approximately $29,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Target in the 4th quarter valued at approximately $33,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Target in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $146.07 on Friday. The company’s fifty day moving average price is $154.75 and its 200 day moving average price is $152.65. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The firm has a market capitalization of $67.58 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.34 and a beta of 1.20.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. Target’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. BMO Capital Markets lowered their price objective on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. The Goldman Sachs Group increased their price objective on shares of Target from $176.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays increased their price objective on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $177.61.

Target Company 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.