IFG Advisory LLC lowered its position in shares of Target Co. (NYSE:TGT) by 5.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 16,180 shares of the retailer’s stock after selling 938 shares during the period. IFG Advisory LLC’s holdings in Target were worth $1,298,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in shares of Target by 5,697.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock valued at $280,000 after acquiring an additional 18,165,298 shares in the last quarter. Norges Bank bought a new position in shares of Target during the fourth quarter valued at $358,987,000. Boston Partners bought a new position in shares of Target during the fourth quarter valued at $310,033,000. Nordea Investment Management AB increased its holdings in shares of Target by 2,417.6% during the fourth quarter. Nordea Investment Management AB now owns 1,811,859 shares of the retailer’s stock valued at $119,742,000 after acquiring an additional 1,739,892 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Target by 3.2% during the fourth quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock valued at $2,856,544,000 after acquiring an additional 1,334,425 shares in the last quarter. 82.48% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on TGT. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Friday, March 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $88.00 price objective (up from $86.00) on shares of Target in a report on Wednesday, March 6th. Citigroup reiterated a “neutral” rating and issued a $78.00 price objective on shares of Target in a report on Tuesday, February 26th. BMO Capital Markets lifted their price objective on Target from $70.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Finally, Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Target has an average rating of “Buy” and a consensus target price of $89.97.
In other Target news, insider Michael Edward Mcnamara sold 5,186 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total transaction of $410,627.48. Following the completion of the sale, the insider now directly owns 77,550 shares in the company, valued at approximately $6,140,409. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 owns 12,836 shares of the company’s stock, valued at $1,030,474.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,736 shares of company stock valued at $3,466,370. Corporate insiders own 0.19% of the company’s stock.
Target stock opened at $81.57 on Friday. The stock has a market cap of $42.05 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.97 and a beta of 0.65. Target Co. has a 52-week low of $60.15 and a 52-week high of $90.39. The company has a quick ratio of 0.20, a current ratio of 0.83 and a debt-to-equity ratio of 1.08.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.10. The business had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. Target had a return on equity of 25.74% and a net margin of 3.90%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. On average, sell-side analysts expect that Target Co. will post 5.82 earnings per share for the current fiscal year.
The company 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 dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.14%. Target’s dividend payout ratio is currently 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; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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