Massachusetts Financial Services Co. MA Lowers Stake in Target Co. (NYSE:TGT)

by · The Markets Daily

Massachusetts Financial Services Co. MA trimmed its position in shares of Target Co. (NYSE:TGT – Free Report) by 22.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,109,048 shares of the retailer’s stock after selling 2,068,832 shares during the period. Massachusetts Financial Services Co. MA owned 1.55% of Target worth $961,001,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Target in the third quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new stake in Target during the 4th quarter valued at approximately $29,000. MCF Advisors LLC lifted its holdings in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in Target during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $104.37 on Wednesday. The company’s 50-day simple moving average is $121.72 and its two-hundred day simple moving average is $135.75. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a one year low of $100.50 and a one year high of $177.89. The company has a market capitalization of $47.55 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT – Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $30.83 billion. As a group, equities analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research reports. Sanford C. Bernstein restated a “market perform” rating on shares of Target in a research report on Wednesday, March 5th. Citigroup cut their price objective on Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Wells Fargo & Company decreased their target price on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. DA Davidson cut their price target on Target from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Telsey Advisory Group decreased their price objective on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus target price of $142.90.

Check Out Our Latest Stock Analysis on Target

Target Company Profile

(Free Report)

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.

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