Berkshire Asset Management LLC PA Cuts Stake in Target Co. (TGT)

Berkshire Asset Management LLC PA lessened its position in shares of Target Co. (NYSE:TGT) by 7.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,801 shares of the retailer’s stock after selling 370 shares during the period. Berkshire Asset Management LLC PA’s holdings in Target were worth $385,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TGT. Oregon Public Employees Retirement Fund raised its stake in shares of Target by 5,697.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock worth $280,000 after buying an additional 18,165,298 shares during the last quarter. Norges Bank acquired a new position in shares of Target during the 4th quarter worth $358,987,000. Boston Partners acquired a new position in shares of Target during the 4th quarter worth $310,033,000. Nordea Investment Management AB raised its stake in shares of Target by 2,417.6% during the 4th quarter. Nordea Investment Management AB now owns 1,811,859 shares of the retailer’s stock worth $119,742,000 after buying an additional 1,739,892 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Target by 3.2% during the 4th quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock worth $2,856,544,000 after buying an additional 1,334,425 shares during the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

Target stock opened at $81.97 on Wednesday. The stock has a market cap of $42.33 billion, a P/E ratio of 15.21, a P/E/G ratio of 2.21 and a beta of 0.68. Target Co. has a 52 week low of $60.15 and a 52 week high of $90.39. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.83 and a quick ratio of 0.20.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, hitting analysts’ consensus estimates of $1.53. The firm had revenue of $22.98 billion during the quarter, compared to analysts’ expectations of $23.05 billion. Target had a return on equity of 25.74% and a net margin of 3.90%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. As a group, sell-side analysts forecast that Target Co. will post 5.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.12%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 47.50%.

Several research firms have recently issued reports on TGT. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Friday, March 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $88.00 price target (up previously from $86.00) on shares of Target in a research note on Wednesday, March 6th. BMO Capital Markets lifted their price target on Target from $70.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. Citigroup reaffirmed a “neutral” rating and set a $78.00 price target on shares of Target in a research note on Tuesday, February 26th. Finally, Standpoint Research raised Target from a “hold” rating to a “buy” rating and set a $62.30 price target for the company in a research note on Wednesday, December 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. Target currently has a consensus rating of “Hold” and an average target price of $87.25.

In other Target news, insider Robert M. Harrison sold 1,791 shares of Target stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.28, for a total value of $143,781.48. Following the completion of the sale, the insider now owns 12,836 shares in the company, valued at approximately $1,030,474.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cathy R. Smith sold 30,000 shares of Target stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The disclosure for this sale can be found here. Insiders sold a total of 36,977 shares of company stock valued at $2,774,409 in the last 90 days. 0.19% of the stock is owned by company insiders.

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Target 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.

See Also: Systematic Risk

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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