Bridges Investment Management Inc. Sells 8,462 Shares of Target Co. (NYSE:TGT)

Bridges Investment Management Inc. trimmed its holdings in shares of Target Co. (NYSE:TGT) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,056 shares of the retailer’s stock after selling 8,462 shares during the period. Bridges Investment Management Inc.’s holdings in Target were worth $16,364,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TGT. Legacy Investment Solutions LLC bought a new position in Target in the third quarter valued at approximately $28,000. MCF Advisors LLC raised its stake in shares of Target by 175.3% during 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 holdings in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Target in the third quarter valued at $36,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Target during the third quarter worth $38,000. Institutional investors own 79.73% of the company’s stock.

Target Trading Up 1.5 %

Shares of Target stock opened at $124.37 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The company has a market capitalization of $56.99 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.94 and a beta of 1.15. The firm’s 50-day moving average price is $133.77 and its two-hundred day moving average price is $142.39.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Wednesday, February 12th were paid a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.60%. Target’s dividend payout ratio (DPR) is 47.51%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Daiwa America cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Citigroup lifted their price target on Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Wells Fargo & Company lowered their price target on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. StockNews.com raised Target from a “hold” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Guggenheim boosted their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $157.93.

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.