Commerce Bank lifted its holdings in Target Co. (NYSE:TGT) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,020 shares of the retailer’s stock after purchasing an additional 6,371 shares during the quarter. Commerce Bank’s holdings in Target were worth $10,973,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. IMA Wealth Inc. bought a new stake in shares of Target during the first quarter valued at about $28,000. Hall Laurie J Trustee raised its position in shares of Target by 118.2% during the 4th quarter. Hall Laurie J Trustee now owns 240 shares of the retailer’s stock worth $31,000 after buying an additional 130 shares in the last quarter. Howard Wealth Management LLC acquired a new stake in shares of Target in the 4th quarter worth approximately $32,000. Retirement Network bought a new position in shares of Target in the fourth quarter valued at approximately $35,000. Finally, Pacitti Group Inc. acquired a new position in shares of Target during the fourth quarter valued at approximately $37,000. 80.49% of the stock is currently owned by institutional investors.
In related news, CAO Robert M. Harrison sold 464 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $107.67, for a total value of $49,958.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian C. Cornell sold 110,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the transaction, the insider now directly owns 208,502 shares in the company, valued at approximately $25,020,240. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,095 shares of company stock worth $13,314,321. 0.24% of the stock is currently owned by corporate insiders.
A number of brokerages have issued reports on TGT. Cfra increased their price target on Target from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Cowen reaffirmed a “buy” rating and set a $150.00 target price on shares of Target in a research note on Wednesday, April 8th. Nomura lowered their target price on Target from $131.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Stifel Nicolaus upped their price target on shares of Target from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday. Finally, Morgan Stanley raised their price objective on shares of Target from $105.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $128.21.
NYSE:TGT traded down $0.22 during trading hours on Friday, hitting $118.46. 69,288 shares of the company’s stock traded hands, compared to its average volume of 6,225,329. The stock’s fifty day moving average price is $109.21 and its two-hundred day moving average price is $114.13. The firm has a market cap of $59.79 billion, a P/E ratio of 22.02, a P/E/G ratio of 4.07 and a beta of 0.75. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.27 and a current ratio of 1.01. Target Co. has a twelve month low of $76.80 and a twelve month high of $130.24.
Target (NYSE:TGT) last released its earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.19. The company had revenue of $19.37 billion for the quarter, compared to analysts’ expectations of $19.04 billion. Target had a return on equity of 24.17% and a net margin of 3.46%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 EPS. On average, equities research analysts predict that Target Co. will post 4.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.64 dividend on an annualized basis and a yield of 2.23%. Target’s payout ratio is 41.31%.
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.
Featured Article: Guidelines for Successful Channel Trading
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.