Bennicas & Associates Inc. reduced its stake in Target Co. (NYSE:TGT) by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,738 shares of the retailer’s stock after selling 225 shares during the quarter. Target comprises about 1.5% of Bennicas & Associates Inc.’s portfolio, making the stock its 22nd largest holding. Bennicas & Associates Inc.’s holdings in Target were worth $1,745,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in TGT. BlackRock Inc. raised its position in Target by 3.2% during the 4th quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock worth $2,856,544,000 after buying an additional 1,334,425 shares during the last quarter. Vanguard Group Inc raised its position in Target by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock worth $3,381,221,000 after buying an additional 151,096 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Target by 5,697.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock worth $280,000 after buying an additional 18,165,298 shares during the last quarter. AQR Capital Management LLC raised its position in Target by 114.5% during the 3rd quarter. AQR Capital Management LLC now owns 10,474,816 shares of the retailer’s stock worth $923,984,000 after buying an additional 5,590,395 shares during the last quarter. Finally, Northern Trust Corp raised its position in Target by 1.3% during the 4th quarter. Northern Trust Corp now owns 7,095,898 shares of the retailer’s stock worth $468,967,000 after buying an additional 89,876 shares during the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.
TGT has been the topic of a number of analyst reports. Deutsche Bank raised their price objective on shares of Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Tigress Financial reaffirmed a “buy” rating on shares of Target in a research note on Thursday, January 17th. Evercore ISI initiated coverage on shares of Target in a research note on Wednesday, March 20th. They set an “in-line” rating and a $80.00 price objective on the stock. Gordon Haskett raised shares of Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. Finally, Standpoint Research raised shares of Target from a “hold” rating to a “buy” rating and set a $62.30 price objective on the stock in a research note on Wednesday, December 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $87.25.
In related news, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.28, for a total value of $143,781.48. Following the sale, the insider now directly owns 12,836 shares in the company, valued at approximately $1,030,474.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cathy R. Smith sold 30,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $74.00, for a total transaction of $2,220,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,977 shares of company stock worth $2,774,409. Insiders own 0.19% of the company’s stock.
Shares of TGT stock opened at $81.98 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.20 and a current ratio of 0.83. The firm has a market capitalization of $42.33 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.21 and a beta of 0.68. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $90.39.
Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, hitting the consensus estimate of $1.53. Target had a return on equity of 25.74% and a net margin of 3.90%. The business had revenue of $22.98 billion for the quarter, compared to analyst estimates of $23.05 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts expect that Target Co. will post 5.79 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.64 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 annualized dividend and a dividend yield of 3.12%. Target’s dividend payout ratio is presently 47.50%.
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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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