Wellington Management Group LLP Has $8.21 Million Position in Target Co. (NYSE:TGT)

Wellington Management Group LLP boosted its position in Target Co. (NYSE:TGT) by 864.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,613 shares of the retailer’s stock after buying an additional 51,639 shares during the quarter. Wellington Management Group LLP’s holdings in Target were worth $8,205,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in shares of Target in the fourth quarter valued at $29,000. Private Wealth Management Group LLC acquired a new position in Target during the fourth quarter worth approximately $29,000. Scarborough Advisors LLC bought a new position in shares of Target during the 4th quarter worth approximately $29,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Target during the 4th quarter worth approximately $33,000. Finally, Voisard Asset Management Group Inc. bought a new stake in Target in the 4th quarter valued at $39,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $146.74 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $153.77 and a 200 day simple moving average of $153.06. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a market capitalization of $67.89 billion, a PE ratio of 16.47, a P/E/G ratio of 1.38 and a beta of 1.20.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.05%. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s payout ratio is presently 49.38%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BMO Capital Markets cut their target price on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. Bank of America upped their target price on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Gordon Haskett lifted their price target on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Target from $153.00 to $177.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus price target of $177.61.

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.