Pacer Advisors Inc. Has $12.98 Million Stock Holdings in Target Co. (NYSE:TGT)


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Pacer Advisors Inc. increased its holdings in shares of Target Co. (NYSE:TGT) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,527 shares of the retailer’s stock after buying an additional 3,045 shares during the period. Pacer Advisors Inc.’s holdings in Target were worth $12,979,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TGT. Norges Bank bought a new position in Target during the 4th quarter worth approximately $1,007,373,000. BlackRock Inc. raised its holdings in Target by 7.1% during the 4th quarter. BlackRock Inc. now owns 37,134,621 shares of the retailer’s stock worth $6,555,375,000 after purchasing an additional 2,462,178 shares during the last quarter. D1 Capital Partners L.P. raised its holdings in Target by 55.8% during the 4th quarter. D1 Capital Partners L.P. now owns 3,595,477 shares of the retailer’s stock worth $634,710,000 after purchasing an additional 1,288,000 shares during the last quarter. FMR LLC raised its holdings in Target by 23.6% during the 4th quarter. FMR LLC now owns 5,493,847 shares of the retailer’s stock worth $969,830,000 after purchasing an additional 1,049,440 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Target by 31.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 3,936,652 shares of the retailer’s stock worth $694,937,000 after purchasing an additional 950,131 shares during the last quarter. Hedge funds and other institutional investors own 79.17% of the company’s stock.

TGT traded down $1.11 during mid-day trading on Thursday, reaching $203.34. 46,084 shares of the stock were exchanged, compared to its average volume of 3,999,654. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.39 and a current ratio of 1.05. The stock has a market capitalization of $101.39 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 2.64 and a beta of 0.97. The company has a 50 day moving average price of $187.34 and a two-hundred day moving average price of $176.55. Target Co. has a 1 year low of $100.00 and a 1 year high of $207.38.

Target (NYSE:TGT) last posted its quarterly earnings data on Monday, March 1st. The retailer reported $2.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.54 by $0.13. The firm had revenue of $28 billion for the quarter, compared to the consensus estimate of $27.42 billion. Target had a net margin of 4.31% and a return on equity of 34.94%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.69 EPS. Sell-side analysts expect that Target Co. will post 9.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, May 18th. Target’s dividend payout ratio is 42.57%.

Several research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Target from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. Guggenheim upgraded shares of Target from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a report on Monday, March 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Target from $194.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, January 14th. Jefferies Financial Group lowered their price objective on shares of Target from $205.00 to $188.00 and set a “hold” rating for the company in a research note on Tuesday, March 9th. Finally, Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research note on Friday, March 5th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $180.90.

In related news, insider Christina Hennington sold 1,852 shares of the business’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $183.00, for a total value of $338,916.00. Following the transaction, the insider now directly owns 25,249 shares of the company’s stock, valued at approximately $4,620,567. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert M. Harrison sold 2,282 shares of the business’s stock in a transaction dated Thursday, March 25th. The stock was sold at an average price of $192.45, for a total transaction of $439,170.90. Following the completion of the transaction, the chief accounting officer now directly owns 6,265 shares in the company, valued at $1,205,699.25. The disclosure for this sale can be found here. Insiders have sold a total of 21,028 shares of company stock worth $4,128,843 over the last ninety days. Insiders own 0.52% of the company’s stock.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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