M&G Investment Management Ltd. decreased its position in Target Co. (NYSE:TGT) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,141 shares of the retailer’s stock after selling 1,213 shares during the quarter. M&G Investment Management Ltd.’s holdings in Target were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in TGT. Norges Bank bought a new stake in Target in the 4th quarter worth approximately $1,007,373,000. Jennison Associates LLC increased its stake in Target by 1,562.3% in the 1st quarter. Jennison Associates LLC now owns 4,514,325 shares of the retailer’s stock worth $894,152,000 after purchasing an additional 4,242,754 shares during the period. BlackRock Inc. increased its stake in Target by 7.1% in 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 period. D1 Capital Partners L.P. increased its stake in Target by 55.8% in 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 period. Finally, FMR LLC increased its stake in Target by 23.6% in 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 period. Institutional investors own 78.24% of the company’s stock.
In other Target news, CAO Robert M. Harrison sold 2,353 shares of the stock in a transaction dated Thursday, April 8th. The stock was sold at an average price of $203.61, for a total value of $479,094.33. Following the transaction, the chief accounting officer now owns 10,395 shares of the company’s stock, valued at $2,116,525.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christina Hennington sold 1,852 shares of the 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 completion of the transaction, the insider now directly owns 25,249 shares in the company, valued at approximately $4,620,567. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,218 shares of company stock worth $9,483,744. Corporate insiders own 0.52% of the company’s stock.
Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, May 18th. The retailer reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $1.44. The firm had revenue of $23.88 billion for the quarter, compared to the consensus estimate of $21.13 billion. Target had a return on equity of 45.70% and a net margin of 6.30%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. On average, sell-side analysts expect that Target Co. will post 11.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Stockholders of record on Wednesday, August 18th will be issued a dividend of $0.90 per share. This is an increase from Target’s previous quarterly dividend of $0.68. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, August 17th. Target’s dividend payout ratio is presently 28.87%.
A number of equities analysts have commented on TGT shares. Stifel Nicolaus lifted their price target on Target from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, March 30th. Telsey Advisory Group lifted their price target on Target from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Thursday, May 20th. DA Davidson reduced their target price on Target from $229.00 to $210.00 and set a “buy” rating on the stock in a research note on Wednesday, March 3rd. Barclays boosted their target price on Target from $225.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 20th. Finally, Morgan Stanley boosted their target price on Target from $205.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, May 24th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $231.06.
Target Company 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 dÃ©cor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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