Edge Capital Group LLC Invests $488,000 in Target Co. (TGT) Stock
Edge Capital Group LLC acquired a new position in shares of Target Co. (NYSE:TGT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,383 shares of the retailer’s stock, valued at approximately $488,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. One Capital Management LLC lifted its stake in Target by 1.9% in the fourth quarter. One Capital Management LLC now owns 36,001 shares of the retailer’s stock valued at $2,379,000 after buying an additional 656 shares during the last quarter. Truewealth LLC lifted its stake in Target by 70.7% in the fourth quarter. Truewealth LLC now owns 881 shares of the retailer’s stock valued at $58,000 after buying an additional 365 shares during the last quarter. Swedbank lifted its stake in Target by 4.5% in the fourth quarter. Swedbank now owns 2,349,986 shares of the retailer’s stock valued at $152,655,000 after buying an additional 101,671 shares during the last quarter. North Star Investment Management Corp. lifted its stake in Target by 6.4% in the fourth quarter. North Star Investment Management Corp. now owns 75,646 shares of the retailer’s stock valued at $4,999,000 after buying an additional 4,566 shares during the last quarter. Finally, Kepos Capital LP lifted its stake in Target by 34.6% in the third quarter. Kepos Capital LP now owns 19,419 shares of the retailer’s stock valued at $1,713,000 after buying an additional 4,995 shares during the last quarter. Hedge funds and other institutional investors own 81.87% of the company’s stock.
A number of research firms have issued reports on TGT. Evercore ISI began coverage on Target in a research note on Wednesday. They issued an “in-line” rating and a $80.00 target price on the stock. Deutsche Bank raised their target price on Target from $80.00 to $84.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Citigroup reissued a “neutral” rating and set a $78.00 price target on shares of Target in a report on Tuesday, February 26th. Tigress Financial reissued a “buy” rating on shares of Target in a report on Thursday, January 17th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $86.00 price target (down from $100.00) on shares of Target in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $86.92.
NYSE:TGT opened at $77.54 on Thursday. The stock has a market cap of $40.21 billion, a P/E ratio of 14.39, a PEG ratio of 2.14 and a beta of 0.66. Target Co. has a 52-week low of $60.15 and a 52-week high of $90.39. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08.
Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. The firm had revenue of $22.98 billion for the quarter, compared to analyst estimates of $23.05 billion. Target had a return on equity of 25.74% and a net margin of 3.90%. Target’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. Sell-side analysts anticipate that Target Co. will post 5.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is currently 47.50%.
ILLEGAL ACTIVITY WARNING: This news story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://www.thecerbatgem.com/2019/03/21/edge-capital-group-llc-invests-488000-in-target-co-tgt-stock.html.
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.
Recommended Story: What is Compound Interest?
Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.