Paloma Partners Management Co Has $4.68 Million Stock Position in Target Co. (NYSE:TGT)

Paloma Partners Management Co grew its position in Target Co. (NYSE:TGT) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,000 shares of the retailer’s stock after acquiring an additional 2,400 shares during the quarter. Paloma Partners Management Co’s holdings in Target were worth $4,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Cynosure Group LLC lifted its stake in shares of Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after purchasing an additional 65 shares during the last quarter. Financial Advocates Investment Management raised its stake in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after acquiring an additional 67 shares in the last quarter. Hancock Whitney Corp lifted its holdings in Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after purchasing an additional 69 shares during the last quarter. Finally, Integral Investment Advisors Inc. grew its holdings in Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

TGT stock opened at $132.31 on Monday. The company has a 50 day moving average price of $148.86 and a 200 day moving average price of $148.45. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. 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 stock has a market capitalization of $60.95 billion, a PE ratio of 14.03, a price-to-earnings-growth 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 (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The company’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $2.10 EPS. Analysts forecast that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is 47.51%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $170.00 to $130.00 in a research report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their target price on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. BMO Capital Markets cut their price target on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. Evercore ISI reduced their price objective on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research report on Thursday, November 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $165.00 target price on shares of Target in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $160.30.

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated 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. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by insiders.

Target Company 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.