Advisory Services Network LLC bought a new position in Target Co. (NYSE:TGT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,764 shares of the retailer’s stock, valued at approximately $1,036,000.
Other hedge funds have also added to or reduced their stakes in the company. Canal Capital Management LLC raised its stake in Target by 51.4% in the first quarter. Canal Capital Management LLC now owns 23,438 shares of the retailer’s stock worth $1,294,000 after buying an additional 7,960 shares during the last quarter. Jennison Associates LLC raised its stake in Target by 1.7% in the first quarter. Jennison Associates LLC now owns 522,890 shares of the retailer’s stock worth $28,858,000 after buying an additional 8,786 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in Target during the first quarter worth $232,000. Cadence Bank NA raised its stake in Target by 6.7% in the first quarter. Cadence Bank NA now owns 34,027 shares of the retailer’s stock worth $1,878,000 after buying an additional 2,123 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Target by 236.4% in the first quarter. Canada Pension Plan Investment Board now owns 379,820 shares of the retailer’s stock worth $20,962,000 after buying an additional 266,913 shares during the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
Shares of Target Co. (NYSE:TGT) opened at 54.20 on Friday. The firm has a 50-day moving average price of $55.26 and a 200 day moving average price of $63.86. Target Co. has a one year low of $52.72 and a one year high of $79.33. The firm has a market cap of $29.90 billion, a P/E ratio of 11.11 and a beta of 0.63.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. Target had a return on equity of 25.18% and a net margin of 4.75%. The business had revenue of $16.02 billion for the quarter, compared to the consensus estimate of $15.63 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts forecast that Target Co. will post $4.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be issued a $0.60 dividend. The ex-dividend date is Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. Target’s payout ratio is currently 42.93%.
A number of research firms have weighed in on TGT. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 target price (up previously from $56.00) on shares of Target in a research note on Friday, May 19th. Deutsche Bank AG restated a “hold” rating and set a $59.00 price target (up previously from $55.00) on shares of Target in a research note on Friday, May 19th. Telsey Advisory Group raised their price target on Target from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Thursday, May 18th. Zacks Investment Research upgraded Target from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Vetr upgraded Target from a “hold” rating to a “buy” rating and set a $61.86 price target on the stock in a research note on Wednesday, May 10th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $65.49.
In other news, Director Donald R. Knauss bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was purchased at an average cost of $54.86 per share, with a total value of $548,600.00. Following the transaction, the director now directly owns 16,431 shares in the company, valued at $901,404.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Cathy R. Smith bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was purchased at an average cost of $58.95 per share, with a total value of $294,750.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 19,000 shares of company stock worth $1,073,750. Company insiders own 0.25% of the company’s stock.
Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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