Norinchukin Bank The Acquires 690 Shares of Target Co. (NYSE:TGT)

Norinchukin Bank The boosted its holdings in Target Co. (NYSE:TGT) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,675 shares of the retailer’s stock after buying an additional 690 shares during the quarter. Norinchukin Bank The’s holdings in Target were worth $8,255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha DNA Investment Management LLC increased its position in Target by 35.1% during the 1st quarter. Alpha DNA Investment Management LLC now owns 404 shares of the retailer’s stock valued at $79,000 after purchasing an additional 105 shares during the period. Linscomb & Williams Inc. increased its position in Target by 3.2% during the 1st quarter. Linscomb & Williams Inc. now owns 7,417 shares of the retailer’s stock valued at $1,469,000 after purchasing an additional 232 shares during the period. Brinker Capital Investments LLC increased its position in Target by 502.2% during the 1st quarter. Brinker Capital Investments LLC now owns 36,541 shares of the retailer’s stock valued at $7,238,000 after purchasing an additional 30,473 shares during the period. Pinnacle Advisory Group Inc. acquired a new stake in Target during the 1st quarter valued at approximately $210,000. Finally, Burleson & Company LLC acquired a new stake in Target during the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 78.24% of the company’s stock.

NYSE TGT opened at $231.66 on Friday. The company has a fifty day simple moving average of $214.25. Target Co. has a 12-month low of $114.81 and a 12-month high of $236.80. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 0.77. The firm has a market cap of $114.61 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.50 and a beta of 1.01.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, May 18th. The retailer reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $1.44. Target had a net margin of 6.30% and a return on equity of 45.70%. The business had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $21.13 billion. During the same quarter last year, the firm posted $0.59 EPS. Target’s revenue was up 23.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Target Co. will post 11.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Wednesday, August 18th will be given a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, August 17th. This represents a $3.60 annualized dividend and a yield of 1.55%. This is an increase from Target’s previous quarterly dividend of $0.68. Target’s dividend payout ratio (DPR) is presently 28.87%.

In other Target news, CAO Robert M. Harrison sold 2,282 shares of the firm’s stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $192.45, for a total transaction of $439,170.90. Following the transaction, the chief accounting officer now directly owns 6,265 shares in the company, valued at approximately $1,205,699.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Robert M. Harrison sold 2,353 shares of the firm’s stock in a transaction on Thursday, April 8th. The shares were sold at an average price of $203.61, for a total value of $479,094.33. Following the transaction, the chief accounting officer now owns 10,395 shares in the company, valued at $2,116,525.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,218 shares of company stock worth $9,483,744. Company insiders own 0.52% of the company’s stock.

TGT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Target from $233.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. Evercore ISI reissued a “hold” rating on shares of Target in a research report on Sunday, May 23rd. Credit Suisse Group increased their target price on shares of Target from $211.00 to $245.00 and gave the company an “outperform” rating in a research report on Tuesday, May 25th. Stifel Nicolaus raised their price objective on shares of Target from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, March 30th. Finally, DA Davidson reduced their price objective on shares of Target from $229.00 to $210.00 and set a “buy” rating for the company in a research report on Wednesday, March 3rd. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Target presently has a consensus rating of “Buy” and an average target price of $231.06.

About Target

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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