Arrowroot Family Office LLC Increases Stock Holdings in Target Co. (NYSE:TGT)

Arrowroot Family Office LLC increased its stake in Target Co. (NYSE:TGT) by 24.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,985 shares of the retailer’s stock after acquiring an additional 385 shares during the quarter. Arrowroot Family Office LLC’s holdings in Target were worth $309,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Target by 6.8% in the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after purchasing an additional 440,307 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Target by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after purchasing an additional 62,916 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Target by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after purchasing an additional 435,229 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TGT. Daiwa America cut shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Melius Research began coverage on shares of Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a research report on Wednesday, November 20th. Citigroup lowered Target from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $188.00 to $130.00 in a research note on Wednesday, November 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and a consensus price target of $160.30.

Target Stock Performance

NYSE TGT opened at $132.31 on Monday. The company has a fifty day moving average of $148.86 and a two-hundred day moving average of $148.45. 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 1 year low of $120.21 and a 1 year high of $181.86. The company has a market capitalization of $60.95 billion, a PE ratio of 14.03, a P/E/G ratio of 2.17 and a beta of 1.24.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the prior year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts expect that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.39%. Target’s dividend payout ratio (DPR) is currently 47.51%.

About Target

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.