Citizens Financial Group Inc. RI Invests $1.58 Million in Target Corporation $TGT

Citizens Financial Group Inc. RI purchased a new position in shares of Target Corporation (NYSE:TGT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,133 shares of the retailer’s stock, valued at approximately $1,585,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wynn Capital LLC boosted its stake in Target by 0.9% in the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock worth $1,104,000 after purchasing an additional 79 shares in the last quarter. Whipplewood Advisors LLC increased its stake in shares of Target by 16.0% in the first quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock valued at $70,000 after buying an additional 80 shares in the last quarter. Prosperity Consulting Group LLC increased its stake in shares of Target by 3.4% in the first quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer’s stock valued at $300,000 after buying an additional 81 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Target by 3.4% in the second quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer’s stock valued at $324,000 after buying an additional 82 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its position in Target by 3.1% during the 1st quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer’s stock worth $358,000 after buying an additional 90 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Up 1.1%

Shares of NYSE TGT opened at $152.63 on Wednesday. The company’s 50 day simple moving average is $139.08 and its 200 day simple moving average is $126.98. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $156.47. The firm has a market capitalization of $69.32 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.51 and a beta of 0.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The firm had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. On average, analysts predict that Target Corporation will post 8.43 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a $1.16 dividend. This is an increase from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.0%. Target’s dividend payout ratio (DPR) is currently 61.29%.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TGT shares. Citigroup restated a “market outperform” rating on shares of Target in a research report on Monday. TD Cowen reiterated a “hold” rating on shares of Target in a research report on Monday, August 10th. BMO Capital Markets increased their price target on shares of Target from $130.00 to $150.00 and gave the company a “market perform” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada raised their price target on shares of Target from $153.00 to $166.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, KeyCorp restated a “sector weight” rating on shares of Target in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus target price of $143.85.

Target News Roundup

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.