Deutsche Bank AG Makes New $224.24 Million Investment in Target Corporation $TGT

Deutsche Bank AG acquired a new stake in Target Corporation (NYSE:TGT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,716,849 shares of the retailer’s stock, valued at approximately $224,238,000. Deutsche Bank AG owned approximately 0.38% of Target at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Target by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock valued at $5,690,262,000 after purchasing an additional 286,499 shares during the last quarter. State Street Corp raised its position in Target by 0.3% in the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock worth $3,692,265,000 after purchasing an additional 124,468 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock worth $1,668,194,000 after buying an additional 561,898 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Target in the 2nd quarter valued at $831,466,000. Finally, Franklin Resources Inc. boosted its position in Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after buying an additional 142,937 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TGT. Robert W. Baird boosted their target price on Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. The Goldman Sachs Group reiterated a “neutral” rating on shares of Target in a research report on Thursday, June 11th. Wolfe Research set a $169.00 price objective on Target in a report on Monday, August 3rd. Evercore set a $150.00 target price on shares of Target in a research report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $140.00 price target on shares of Target in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $143.85.

Key Target News

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

Target Stock Performance

Shares of TGT opened at $152.63 on Wednesday. The firm has a market cap of $69.32 billion, a P/E ratio of 20.16, a PEG ratio of 2.51 and a beta of 0.96. Target Corporation has a twelve month low of $83.44 and a twelve month high of $156.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The firm’s 50 day moving average price is $139.08 and its two-hundred day moving average price is $126.98.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The company had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, analysts forecast that Target Corporation will post 8.43 EPS for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is currently 61.29%.

Insider Transactions at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the sale, the insider owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.