Daiwa Securities Group Inc. Has $8.62 Million Stock Position in Target Co. (NYSE:TGT)

Daiwa Securities Group Inc. lifted its stake in shares of Target Co. (NYSE:TGT) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,780 shares of the retailer’s stock after purchasing an additional 3,937 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Target were worth $8,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Target in the 3rd quarter worth about $28,000. MCF Advisors LLC increased its holdings in Target by 175.3% in 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. increased its holdings in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Target in the 3rd quarter worth about $36,000. Finally, OFI Invest Asset Management acquired a new position in Target in the 4th quarter worth about $36,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $112.88 on Wednesday. The firm has a 50-day moving average of $131.18 and a 200-day moving average of $140.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a market cap of $51.72 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.94 and a beta of 1.18. Target Co. has a one year low of $111.84 and a one year high of $181.86.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Equities research analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Wednesday, February 12th. Target’s dividend payout ratio is currently 50.56%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent research reports. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. TD Cowen cut their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. cut their target price on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Citigroup decreased their price target on Target from $133.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their price target on Target from $166.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Target has an average rating of “Hold” and an average price target of $145.87.

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.