Opus Investment Management Inc. cut its holdings in Target Co. (NYSE:TGT) by 17.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 80,000 shares of the retailer’s stock after selling 17,000 shares during the period. Target accounts for about 1.0% of Opus Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Opus Investment Management Inc.’s holdings in Target were worth $5,554,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of TGT. Federated Investors Inc. PA increased its holdings in shares of Target by 3.1% during the 1st quarter. Federated Investors Inc. PA now owns 942,645 shares of the retailer’s stock worth $65,448,000 after buying an additional 28,158 shares during the last quarter. Glen Harbor Capital Management LLC increased its holdings in shares of Target by 3.5% during the 1st quarter. Glen Harbor Capital Management LLC now owns 129,052 shares of the retailer’s stock worth $8,960,000 after buying an additional 4,334 shares during the last quarter. Trillium Asset Management LLC increased its holdings in shares of Target by 3.3% during the 1st quarter. Trillium Asset Management LLC now owns 220,716 shares of the retailer’s stock worth $15,325,000 after buying an additional 7,075 shares during the last quarter. Pegasus Partners Ltd. increased its holdings in shares of Target by 18.5% during the 1st quarter. Pegasus Partners Ltd. now owns 26,077 shares of the retailer’s stock worth $1,811,000 after buying an additional 4,064 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Target during the 1st quarter worth $3,741,000. Institutional investors own 84.88% of the company’s stock.
Target opened at $75.94 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.95 and a quick ratio of 0.30. The stock has a market capitalization of $40.70 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 2.74 and a beta of 0.71. Target Co. has a 1-year low of $48.56 and a 1-year high of $78.70.
Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 6th. The retailer reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The firm had revenue of $22.77 billion during the quarter, compared to analysts’ expectations of $22.56 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 earnings per share. sell-side analysts expect that Target Co. will post 5.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Wednesday, May 16th will be given a $0.62 dividend. The ex-dividend date is Tuesday, May 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.27%. Target’s payout ratio is currently 52.65%.
A number of analysts have recently commented on TGT shares. Wolfe Research upgraded Target from an “underperform” rating to a “market perform” rating in a report on Monday, April 16th. Robert W. Baird upgraded Target from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $75.00 to $85.00 in a report on Wednesday, February 14th. Cowen set a $80.00 price objective on Target and gave the stock a “hold” rating in a report on Thursday, February 8th. Vetr cut shares of Target from a “hold” rating to a “sell” rating and set a $73.66 price target for the company. in a research report on Thursday, February 15th. Finally, Citigroup reaffirmed a “neutral” rating and set a $80.00 price target (down from $86.00) on shares of Target in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Target has a consensus rating of “Hold” and a consensus target price of $74.37.
In other Target news, insider Don H. Liu sold 2,735 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total value of $205,125.00. Following the completion of the transaction, the insider now directly owns 62,210 shares of the company’s stock, valued at approximately $4,665,750. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John J. Mulligan sold 118,373 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the completion of the transaction, the insider now directly owns 195,906 shares of the company’s stock, valued at $13,589,999.22. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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