Summa Corp. Has $446,000 Position in Target Co. (NYSE:TGT)

Summa Corp. raised its holdings in Target Co. (NYSE:TGT) by 83.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,300 shares of the retailer’s stock after acquiring an additional 1,500 shares during the quarter. Summa Corp.’s holdings in Target were worth $446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in shares of Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Target by 9,940.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after purchasing an additional 1,981,458 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after purchasing an additional 1,502,200 shares during the last quarter. FMR LLC increased its stake 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. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of Target by 773.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after purchasing an additional 737,384 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

NYSE TGT opened at $140.28 on Thursday. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The company has a 50-day simple moving average of $133.80 and a 200 day simple moving average of $144.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market capitalization of $64.28 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) 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 company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter last year, the business posted $2.10 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts predict that Target Co. will post 8.68 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.19%. Target’s dividend payout ratio is presently 47.51%.

Wall Street Analyst Weigh In

TGT has been the subject of several research analyst reports. Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. TD Cowen cut their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Bank of America cut their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Stifel Nicolaus boosted their price objective on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Target presently has a consensus rating of “Hold” and an average price target of $157.70.

Target 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.