M.D. Sass Investors Services Inc. Invests $10.09 Million in Target Co. (NYSE:TGT)

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M.D. Sass Investors Services Inc. acquired a new position in shares of Target Co. (NYSE:TGT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 116,468 shares of the retailer’s stock, valued at approximately $10,087,000. Target accounts for about 2.3% of M.D. Sass Investors Services Inc.’s portfolio, making the stock its 22nd largest holding.

Several other institutional investors have also modified their holdings of TGT. Carnick & Kubik Group LLC grew its stake in shares of Target by 23.0% in the 2nd quarter. Carnick & Kubik Group LLC now owns 60,816 shares of the retailer’s stock valued at $5,268,000 after purchasing an additional 11,376 shares during the period. Breiter Capital Management Inc. boosted its stake in Target by 4.0% in the 2nd quarter. Breiter Capital Management Inc. now owns 6,348 shares of the retailer’s stock valued at $483,000 after buying an additional 245 shares in the last quarter. Murphy Pohlad Asset Management LLC grew its position in Target by 3.1% in the first quarter. Murphy Pohlad Asset Management LLC now owns 54,688 shares of the retailer’s stock valued at $4,389,000 after acquiring an additional 1,645 shares during the period. FinTrust Capital Advisors LLC grew its position in Target by 10.0% in the second quarter. FinTrust Capital Advisors LLC now owns 2,193 shares of the retailer’s stock valued at $190,000 after acquiring an additional 200 shares during the period. Finally, Goelzer Investment Management Inc. raised its stake in Target by 1.3% during the second quarter. Goelzer Investment Management Inc. now owns 86,320 shares of the retailer’s stock worth $7,476,000 after acquiring an additional 1,104 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

A number of brokerages have issued reports on TGT. Morgan Stanley lifted their price objective on Target from $76.00 to $107.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. Barclays set a $115.00 target price on shares of Target and gave the stock a “buy” rating in a report on Wednesday, August 21st. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. KeyCorp lifted their price target on shares of Target from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Buckingham Research restated a “buy” rating and issued a $117.00 price target (up from $102.00) on shares of Target in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $102.37.

In other news, insider Laysha Ward sold 20,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $110.23, for a total transaction of $2,204,600.00. Following the transaction, the insider now owns 88,171 shares of the company’s stock, valued at $9,719,089.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 4,163 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $89.00, for a total value of $370,507.00. The disclosure for this sale can be found here. Insiders sold a total of 97,532 shares of company stock valued at $10,121,671 over the last three months. Insiders own 0.24% of the company’s stock.

Shares of NYSE TGT traded up $0.14 during trading on Wednesday, reaching $108.97. The company had a trading volume of 3,527,727 shares, compared to its average volume of 7,995,068. Target Co. has a 52 week low of $60.15 and a 52 week high of $110.94. The stock has a market cap of $55.15 billion, a PE ratio of 20.22, a PEG ratio of 2.49 and a beta of 0.53. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84. The business’s 50 day moving average price is $93.78 and its 200-day moving average price is $84.06.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The company had revenue of $18.42 billion for the quarter, compared to analyst estimates of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. Target’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.47 earnings per share. Equities analysts anticipate that Target Co. will post 6.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.66 dividend. This is a boost from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Tuesday, August 20th. Target’s dividend payout ratio (DPR) is 48.98%.

Target Company Profile

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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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