Radnor Capital Management LLC Boosts Holdings in Target Co. (NYSE:TGT)

Radnor Capital Management LLC raised its holdings in Target Co. (NYSE:TGT) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,695 shares of the retailer’s stock after buying an additional 561 shares during the quarter. Radnor Capital Management LLC’s holdings in Target were worth $1,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Norges Bank purchased a new stake in Target in the 4th quarter valued at about $757,892,000. Raymond James Financial Inc. purchased a new stake in Target in the 4th quarter valued at about $297,122,000. Ameriprise Financial Inc. grew its holdings in Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after buying an additional 1,506,275 shares during the period. FMR LLC grew its holdings in Target by 13.6% in the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after buying an additional 1,358,348 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new stake in Target in the 4th quarter valued at about $182,882,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $97.33 on Friday. The business’s 50 day moving average is $95.24 and its two-hundred day moving average is $116.16. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40. The firm has a market cap of $44.22 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.94 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same period in the previous year, the company earned $2.03 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Wednesday, May 14th. Target’s dividend payout ratio is currently 49.23%.

Analyst Ratings Changes

Several analysts have commented on TGT shares. Wall Street Zen cut Target from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Roth Mkm reiterated a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Telsey Advisory Group set a $110.00 target price on Target and gave the stock a “market perform” rating in a report on Thursday, May 22nd. Roth Capital set a $122.00 target price on Target in a report on Wednesday, March 5th. Finally, Barclays began coverage on Target in a report on Thursday, May 22nd. They set an “equal weight” rating for the company. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Target currently has a consensus rating of “Hold” and a consensus target price of $116.70.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider now directly owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.