LPL Financial LLC increased its holdings in Target Co. (NYSE:TGT) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,783 shares of the retailer’s stock after purchasing an additional 4,994 shares during the quarter. LPL Financial LLC’s holdings in Target were worth $13,593,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. TIAA CREF Investment Management LLC raised its holdings in shares of Target by 85.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,299,194 shares of the retailer’s stock worth $215,272,000 after purchasing an additional 1,515,618 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Target by 17.1% during the first quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock valued at $492,829,000 after acquiring an additional 1,038,937 shares during the period. Teachers Advisors LLC raised its holdings in shares of Target by 101.8% during the fourth quarter. Teachers Advisors LLC now owns 1,879,844 shares of the retailer’s stock valued at $122,660,000 after acquiring an additional 948,075 shares during the period. Argent Capital Management LLC acquired a new stake in shares of Target during the first quarter valued at approximately $59,281,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Target during the fourth quarter valued at approximately $43,638,000. Institutional investors and hedge funds own 85.41% of the company’s stock.
In other news, insider Don H. Liu sold 2,735 shares of the stock in a transaction on 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 owns 62,210 shares in the company, valued at approximately $4,665,750. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Janna A. Potts sold 5,152 shares of the stock in a transaction on Monday, June 4th. The shares were sold at an average price of $75.00, for a total transaction of $386,400.00. Following the completion of the transaction, the insider now owns 22,304 shares of the company’s stock, valued at approximately $1,672,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,186 shares of company stock valued at $12,287,710. Insiders own 0.19% of the company’s stock.
A number of research firms have recently issued reports on TGT. Credit Suisse Group set a $86.00 price target on shares of Target and gave the company a “buy” rating in a report on Tuesday, May 22nd. Susquehanna Bancshares reiterated a “positive” rating and issued a $84.00 price objective on shares of Target in a research note on Thursday, June 7th. MKM Partners set a $91.00 price objective on shares of Target and gave the company a “buy” rating in a research note on Thursday, May 24th. Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Monday, May 14th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $73.58.
Target opened at $77.12 on Tuesday, according to Marketbeat.com. The company has a quick ratio of 0.18, a current ratio of 0.90 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.18 billion, a P/E ratio of 16.37, a PEG ratio of 2.45 and a beta of 0.72. Target Co. has a 1 year low of $50.04 and a 1 year high of $79.59.
Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 23rd. The retailer reported $1.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.06). Target had a return on equity of 23.34% and a net margin of 4.09%. The firm had revenue of $16.78 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the company posted $1.21 earnings per share. Target’s quarterly revenue was up 3.4% on a year-over-year basis. equities research analysts expect that Target Co. will post 5.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This is an increase from Target’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 3.32%. Target’s dividend payout ratio is 52.65%.
Target Company Profile
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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