Lakeview Capital Partners LLC purchased a new stake in shares of Target Co. (NYSE:TGT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,045 shares of the retailer’s stock, valued at approximately $232,000.
A number of other large investors have also recently modified their holdings of TGT. Bank of Montreal Can bought a new position in Target during the 2nd quarter valued at about $105,222,000. American Century Companies Inc. grew its holdings in Target by 17.1% during the 1st quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock valued at $492,829,000 after purchasing an additional 1,038,937 shares during the last quarter. Argent Capital Management LLC bought a new position in Target during the 1st quarter valued at about $59,281,000. CIBC World Markets Inc. grew its holdings in Target by 13,948.9% during the 1st quarter. CIBC World Markets Inc. now owns 811,322 shares of the retailer’s stock valued at $56,330,000 after purchasing an additional 805,547 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Target by 9.0% during the 1st quarter. LSV Asset Management now owns 7,405,839 shares of the retailer’s stock valued at $514,187,000 after purchasing an additional 610,674 shares during the last quarter. Institutional investors own 85.18% of the company’s stock.
In other news, insider Janna A. Potts sold 5,152 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $75.00, for a total value of $386,400.00. Following the completion of the sale, the insider now owns 22,304 shares of the company’s stock, valued at approximately $1,672,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laysha Ward sold 43,926 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $79.33, for a total transaction of $3,484,649.58. Following the completion of the sale, the insider now directly owns 90,460 shares of the company’s stock, valued at approximately $7,176,191.80. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
TGT has been the topic of several analyst reports. Gordon Haskett upgraded shares of Target from a “hold” rating to an “accumulate” rating in a report on Wednesday, July 25th. Credit Suisse Group set a $86.00 price target on shares of Target and gave the company a “buy” rating in a report on Tuesday, May 22nd. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Tuesday, May 22nd. MKM Partners set a $91.00 price target on shares of Target and gave the company a “buy” rating in a report on Thursday, May 24th. Finally, ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Monday, May 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $79.41.
Shares of TGT stock opened at $83.27 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.18 and a current ratio of 0.90. The stock has a market capitalization of $44.27 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 2.94 and a beta of 0.74. Target Co. has a one year low of $53.90 and a one year high of $84.14.
Target (NYSE:TGT) last issued its earnings results on Wednesday, August 22nd. The retailer reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.07. Target had a net margin of 4.09% and a return on equity of 23.34%. The business had revenue of $17.78 billion for the quarter, compared to the consensus estimate of $17.33 billion. During the same period in the prior year, the firm earned $1.23 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. equities analysts forecast that Target Co. will post 5.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Tuesday, August 14th. This is a boost from Target’s previous quarterly dividend of $0.62. Target’s dividend payout ratio is presently 54.35%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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