Cpwm LLC increased its stake in Target Co. (NYSE:TGT) by 68.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,598 shares of the retailer’s stock after purchasing an additional 7,143 shares during the quarter. Cpwm LLC’s holdings in Target were worth $1,412,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Private Ocean LLC purchased a new position in shares of Target in the 1st quarter valued at about $52,000. Harvest Group Wealth Management LLC purchased a new position in Target during the 1st quarter valued at about $77,000. Mn Services Vermogensbeheer B.V. increased its holdings in Target by 0.6% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 281,306 shares of the retailer’s stock valued at $22,578,000 after acquiring an additional 1,600 shares in the last quarter. State Treasurer State of Michigan increased its holdings in Target by 0.7% during the 1st quarter. State Treasurer State of Michigan now owns 150,410 shares of the retailer’s stock valued at $12,072,000 after acquiring an additional 1,000 shares in the last quarter. Finally, First Mercantile Trust Co. increased its holdings in Target by 88.7% during the 1st quarter. First Mercantile Trust Co. now owns 22,960 shares of the retailer’s stock valued at $1,843,000 after acquiring an additional 10,790 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.
Target stock opened at $71.26 on Thursday. Target Co. has a 12-month low of $60.15 and a 12-month high of $90.39. The stock has a market cap of $36.95 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.96 and a beta of 0.65. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.20 and a current ratio of 0.83.
Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.53. Target had a net margin of 3.90% and a return on equity of 25.74%. The company had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $23.05 billion. During the same period last year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts expect that Target Co. will post 5.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.64 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 annualized dividend and a dividend yield of 3.59%. Target’s dividend payout ratio is currently 47.50%.
In other Target news, insider Robert M. Harrison sold 1,791 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.28, for a total transaction of $143,781.48. Following the sale, the insider now directly owns 12,836 shares of the company’s stock, valued at approximately $1,030,474.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathy R. Smith sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $74.00, for a total transaction of $2,220,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 36,977 shares of company stock worth $2,774,409 over the last ninety days. 0.19% of the stock is owned by corporate insiders.
TGT has been the subject of several recent research reports. Tigress Financial restated a “buy” rating on shares of Target in a report on Thursday, January 17th. Citigroup restated a “neutral” rating and set a $78.00 target price on shares of Target in a report on Tuesday, February 26th. Telsey Advisory Group restated an “outperform” rating and set a $88.00 target price (up from $86.00) on shares of Target in a report on Wednesday, March 6th. BMO Capital Markets raised their target price on shares of Target from $70.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Finally, Deutsche Bank raised their target price on shares of Target from $80.00 to $84.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. Target currently has an average rating of “Buy” and a consensus price target of $88.29.
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.
Further Reading: Oversold
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