Edmp Inc. grew its position in shares of Target Co. (NYSE:TGT) by 19.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,225 shares of the retailer’s stock after purchasing an additional 860 shares during the period. Edmp Inc.’s holdings in Target were worth $419,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. One Capital Management LLC grew its position in Target by 1.9% in the fourth quarter. One Capital Management LLC now owns 36,001 shares of the retailer’s stock worth $2,379,000 after acquiring an additional 656 shares in the last quarter. Truewealth LLC grew its position in Target by 70.7% in the fourth quarter. Truewealth LLC now owns 881 shares of the retailer’s stock worth $58,000 after acquiring an additional 365 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Target by 40.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 897,700 shares of the retailer’s stock worth $59,329,000 after acquiring an additional 260,700 shares in the last quarter. Swedbank grew its position in Target by 4.5% in the fourth quarter. Swedbank now owns 2,349,986 shares of the retailer’s stock worth $152,655,000 after acquiring an additional 101,671 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Target by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 52,674 shares of the retailer’s stock worth $3,481,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.
TGT has been the subject of several research reports. Deutsche Bank upped their target price on shares of Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Tigress Financial reiterated a “buy” rating on shares of Target in a research report on Thursday, January 17th. Evercore ISI initiated coverage on shares of Target in a research report on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 target price for the company. Gordon Haskett upgraded shares of Target from an “accumulate” rating to a “buy” rating in a research report on Thursday, March 21st. Finally, Standpoint Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $62.30 target price for the company in a research report on Wednesday, December 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.25.
Target stock opened at $81.97 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.83 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $42.33 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. Target Co. has a twelve month low of $60.15 and a twelve month high of $90.39.
Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, hitting the consensus estimate of $1.53. The business had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.05 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. On average, equities analysts anticipate that Target Co. will post 5.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio is presently 47.50%.
In other news, insider Michael Edward Mcnamara sold 5,186 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total transaction of $410,627.48. Following the completion of the transaction, the insider now directly owns 77,550 shares of the company’s stock, valued at $6,140,409. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert M. Harrison sold 1,791 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.28, for a total transaction of $143,781.48. Following the transaction, the insider now directly owns 12,836 shares of the company’s stock, valued at $1,030,474.08. The disclosure for this sale can be found here. Insiders sold 36,977 shares of company stock valued at $2,774,409 over the last three months. 0.19% of the stock is currently owned by insiders.
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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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