Equity Investment Corp increased its stake in Target Co. (NYSE:TGT) by 19.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,850,201 shares of the retailer’s stock after acquiring an additional 295,408 shares during the period. Target accounts for approximately 4.0% of Equity Investment Corp’s holdings, making the stock its 4th biggest position. Equity Investment Corp’s holdings in Target were worth $120,726,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Investment Advisory Services LLC grew its stake in Target by 9.9% during the 4th quarter. Capital Investment Advisory Services LLC now owns 7,675 shares of the retailer’s stock valued at $501,000 after acquiring an additional 693 shares in the last quarter. Motco grew its stake in Target by 1.6% during the 3rd quarter. Motco now owns 55,554 shares of the retailer’s stock valued at $3,278,000 after acquiring an additional 876 shares in the last quarter. Regentatlantic Capital LLC grew its stake in Target by 1.5% during the 4th quarter. Regentatlantic Capital LLC now owns 61,549 shares of the retailer’s stock valued at $4,016,000 after acquiring an additional 905 shares in the last quarter. American Trust Investment Advisors LLC grew its stake in Target by 5.3% during the 4th quarter. American Trust Investment Advisors LLC now owns 19,055 shares of the retailer’s stock valued at $1,243,000 after acquiring an additional 960 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in Target by 39.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 3,400 shares of the retailer’s stock valued at $201,000 after acquiring an additional 967 shares in the last quarter. 88.32% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Roxanne S. Austin sold 4,705 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the completion of the sale, the insider now owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,262 shares of company stock valued at $1,185,484. Corporate insiders own 0.20% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 annualized dividend and a yield of 3.24%. Target’s dividend payout ratio (DPR) is currently 51.88%.
Several equities analysts have weighed in on the company. Credit Suisse Group assumed coverage on Target in a research note on Monday. They set an “outperform” rating on the stock. Citigroup reaffirmed a “neutral” rating and set a $80.00 target price (down previously from $86.00) on shares of Target in a research note on Friday, February 16th. Vetr cut Target from a “hold” rating to a “sell” rating and set a $73.66 target price on the stock. in a research note on Thursday, February 15th. Robert W. Baird raised Target from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $75.00 to $85.00 in a research note on Wednesday, February 14th. Finally, ValuEngine raised Target from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.56.
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Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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