Twin Capital Management Inc. Boosts Holdings in Target Co. (TGT)

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Twin Capital Management Inc. grew its holdings in shares of Target Co. (NYSE:TGT) by 75.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,797 shares of the retailer’s stock after buying an additional 22,657 shares during the quarter. Twin Capital Management Inc.’s holdings in Target were worth $4,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TGT. Trexquant Investment LP acquired a new position in shares of Target during the first quarter valued at about $547,000. Virginia Retirement Systems ET AL grew its holdings in shares of Target by 20.1% during the first quarter. Virginia Retirement Systems ET AL now owns 150,100 shares of the retailer’s stock valued at $10,421,000 after buying an additional 25,100 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Target by 8.6% during the first quarter. Victory Capital Management Inc. now owns 121,364 shares of the retailer’s stock valued at $8,426,000 after buying an additional 9,574 shares during the last quarter. Walter & Keenan Financial Consulting Co. MI ADV acquired a new position in shares of Target during the first quarter valued at about $255,000. Finally, Prudential Financial Inc. grew its holdings in shares of Target by 2.1% during the first quarter. Prudential Financial Inc. now owns 1,029,757 shares of the retailer’s stock valued at $71,497,000 after buying an additional 20,718 shares during the last quarter. Hedge funds and other institutional investors own 82.50% of the company’s stock.

In other news, insider Laysha Ward sold 43,926 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $79.33, for a total value of $3,484,649.58. Following the sale, the insider now owns 90,460 shares of the company’s stock, valued at $7,176,191.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Shares of TGT stock opened at $88.88 on Friday. The stock has a market capitalization of $46.63 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 2.45 and a beta of 0.69. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.17 and a current ratio of 0.82. Target Co. has a 52 week low of $54.04 and a 52 week high of $90.19.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.40 by $0.07. The business had revenue of $17.78 billion for the quarter, compared to analyst estimates of $17.33 billion. Target had a net margin of 4.19% and a return on equity of 24.29%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. research analysts predict that Target Co. will post 5.37 earnings per share for the current 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. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $2.56 annualized dividend and a dividend yield of 2.88%. This is a positive change from Target’s previous quarterly dividend of $0.62. Target’s payout ratio is 54.35%.

TGT has been the topic of a number of recent analyst reports. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. Credit Suisse Group set a $86.00 price target on shares of Target and gave the company a “buy” rating in a research report on Monday, June 4th. Wolfe Research raised shares of Target from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 16th. Wells Fargo & Co raised their price target on shares of Target from $72.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, August 23rd. Finally, Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Target presently has an average rating of “Hold” and an average price target of $87.67.

Target 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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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