Target Co. (NYSE:TGT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Target Co. (NYSE:TGTGet Rating) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,244,641 shares of the retailer’s stock after purchasing an additional 47,037 shares during the quarter. Principal Financial Group Inc. owned approximately 0.27% of Target worth $264,137,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC purchased a new position in Target in the 4th quarter valued at approximately $29,000. Roble Belko & Company Inc purchased a new position in Target in the 1st quarter valued at approximately $32,000. Cornerstone Advisory LLC purchased a new position in Target in the 4th quarter valued at approximately $36,000. Mascoma Wealth Management LLC increased its stake in Target by 47.2% in the 1st quarter. Mascoma Wealth Management LLC now owns 181 shares of the retailer’s stock valued at $38,000 after purchasing an additional 58 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new position in Target in the 1st quarter valued at approximately $47,000. 81.83% of the stock is owned by institutional investors and hedge funds.

Target Trading Up 0.5 %

NYSE:TGT opened at $166.97 on Tuesday. The business’s 50-day moving average is $151.90 and its two-hundred day moving average is $192.22. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. Target Co. has a 12 month low of $137.16 and a 12 month high of $268.98. The firm has a market capitalization of $77.42 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03.

Target (NYSE:TGTGet Rating) last announced its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.81). Target had a return on equity of 44.75% and a net margin of 5.48%. The business had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $24.48 billion. During the same period in the previous year, the firm posted $3.69 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. Research analysts predict that Target Co. will post 8.49 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from Target’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, August 16th. Target’s payout ratio is presently 29.85%.

Analyst Ratings Changes

A number of equities research analysts have commented on TGT shares. Deutsche Bank Aktiengesellschaft lowered their target price on Target from $227.00 to $198.00 and set a “buy” rating on the stock in a report on Wednesday, June 8th. Cowen lowered their target price on Target from $265.00 to $190.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Guggenheim lowered their target price on Target from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, June 8th. DA Davidson decreased their price objective on Target from $205.00 to $171.00 and set a “buy” rating on the stock in a report on Wednesday, June 8th. Finally, Jefferies Financial Group decreased their price objective on Target from $252.00 to $168.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Target currently has an average rating of “Moderate Buy” and a consensus price target of $189.08.

Insider Transactions at Target

In related news, insider John J. Mulligan sold 45,490 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $139.98, for a total value of $6,367,690.20. Following the completion of the sale, the insider now directly owns 157,333 shares of the company’s stock, valued at $22,023,473.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Target Company Profile

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

See Also

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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