Daiwa Securities Group Inc. Purchases 2,042 Shares of Target Co. (NYSE:TGT)

Daiwa Securities Group Inc. grew its holdings in shares of Target Co. (NYSE:TGT) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,402 shares of the retailer’s stock after acquiring an additional 2,042 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Target were worth $6,466,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Oakworth Capital Inc. lifted its stake in shares of Target by 47.8% in the 4th quarter. Oakworth Capital Inc. now owns 2,109 shares of the retailer’s stock valued at $300,000 after acquiring an additional 682 shares during the last quarter. KLCM Advisors Inc. raised its holdings in Target by 18.3% during the 4th quarter. KLCM Advisors Inc. now owns 2,262 shares of the retailer’s stock valued at $322,000 after buying an additional 350 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Target during the 4th quarter valued at $29,000. TRUE Private Wealth Advisors bought a new stake in Target in the 4th quarter worth $241,000. Finally, Tyche Wealth Partners LLC purchased a new position in shares of Target in the fourth quarter valued at about $730,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of Target stock opened at $166.58 on Friday. The company has a market capitalization of $76.91 billion, a PE ratio of 18.65, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a 50-day simple moving average of $163.25 and a two-hundred day simple moving average of $140.52. Target Co. has a one year low of $102.93 and a one year high of $181.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. Target’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts expect that Target Co. will post 9.39 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.64%. Target’s dividend payout ratio (DPR) is 49.27%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TGT shares. JPMorgan Chase & Co. boosted their price target on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Citigroup upped their target price on Target from $142.00 to $180.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Guggenheim boosted their price objective on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Tigress Financial raised their target price on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Roth Mkm increased their price target on shares of Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.85.

Insider Buying and Selling at Target

In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by insiders.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.