Cubist Systematic Strategies LLC lifted its holdings in shares of Target Co. (NYSE:TGT) by 623.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,387 shares of the retailer’s stock after acquiring an additional 208,038 shares during the quarter. Target makes up 0.4% of Cubist Systematic Strategies LLC’s portfolio, making the stock its 21st biggest position. Cubist Systematic Strategies LLC’s holdings in Target were worth $20,907,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Krane Funds Advisors LLC purchased a new position in Target during the 2nd quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new stake in shares of Target in the second quarter worth about $31,000. Icon Wealth Partners LLC purchased a new stake in shares of Target in the first quarter worth about $31,000. Advisory Alpha LLC acquired a new position in Target in the 1st quarter worth about $30,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Target during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 81.82% of the company’s stock.
A number of research analysts recently issued reports on TGT shares. Deutsche Bank upgraded Target from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $99.00 in a report on Monday, August 5th. Bank of America upped their price objective on shares of Target from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Goldman Sachs Group assumed coverage on shares of Target in a report on Thursday, July 11th. They issued a “buy” rating and a $102.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Target from $76.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $102.37.
Target stock traded up $0.22 during trading on Friday, reaching $108.09. 28,635 shares of the company’s stock were exchanged, compared to its average volume of 7,017,497. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84. The company’s 50-day moving average is $97.02 and its two-hundred day moving average is $85.46. The firm has a market cap of $54.81 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.47 and a beta of 0.53. Target Co. has a 52-week low of $60.15 and a 52-week high of $110.94.
Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.21. The business had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.47 earnings per share. Analysts anticipate that Target Co. will post 6.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.66 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 annualized dividend and a dividend yield of 2.44%. Target’s dividend payout ratio (DPR) is currently 48.98%.
In other news, insider Michael Edward Mcnamara sold 11,891 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Don H. Liu sold 4,140 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $99.92, for a total transaction of $413,668.80. The disclosure for this sale can be found here. Insiders have sold a total of 93,369 shares of company stock valued at $9,751,164 over the last three months. 0.24% of the stock is currently owned by insiders.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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