CIBC Asset Management Inc grew its position in Target Co. (NYSE:TGT) by 4.9% in the first quarter, HoldingsChannel.com reports. The fund owned 55,236 shares of the retailer’s stock after acquiring an additional 2,562 shares during the quarter. CIBC Asset Management Inc’s holdings in Target were worth $4,433,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Target by 17.2% in the third quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock worth $403,145,000 after acquiring an additional 671,121 shares during the period. Vanguard Group Inc increased its stake in shares of Target by 0.4% during the third quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock worth $3,381,221,000 after purchasing an additional 151,096 shares in the last quarter. Pennsylvania Trust Co increased its stake in shares of Target by 16.6% during the fourth quarter. Pennsylvania Trust Co now owns 23,188 shares of the retailer’s stock worth $1,532,000 after purchasing an additional 3,298 shares in the last quarter. DNB Asset Management AS increased its stake in shares of Target by 22.7% during the fourth quarter. DNB Asset Management AS now owns 76,681 shares of the retailer’s stock worth $5,068,000 after purchasing an additional 14,204 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Target by 3.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 49,789 shares of the retailer’s stock worth $3,290,000 after purchasing an additional 1,515 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.
In other Target news, insider Michael Edward Mcnamara sold 5,186 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total transaction of $410,627.48. Following the transaction, the insider now directly owns 77,550 shares of the company’s stock, valued at approximately $6,140,409. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Harrison sold 1,791 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was 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 in the company, valued at $1,030,474.08. The disclosure for this sale can be found here. Insiders sold a total of 36,977 shares of company stock worth $2,774,409 over the last ninety days. Insiders own 0.19% of the company’s stock.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Friday, March 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $88.00 price objective (up previously from $86.00) on shares of Target in a research note on Wednesday, March 6th. BMO Capital Markets upped their price objective on shares of Target from $70.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Citigroup reissued a “neutral” rating and issued a $78.00 price target on shares of Target in a research note on Tuesday, February 26th. Finally, Sanford C. Bernstein reissued a “mkt perform” rating on shares of Target in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Target presently has an average rating of “Buy” and an average target price of $88.29.
NYSE TGT opened at $71.26 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $36.95 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.96 and a beta of 0.65. Target Co. has a 12 month low of $60.15 and a 12 month high of $90.39.
Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.53. The firm had revenue of $22.98 billion for 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 company’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.37 EPS. On average, research analysts forecast that Target Co. will post 5.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 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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