Target Co. (TGT) Shares Bought by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC raised its stake in shares of Target Co. (NYSE:TGT) by 1.8% during the first quarter, Holdings Channel reports. The fund owned 2,658,165 shares of the retailer’s stock after acquiring an additional 46,261 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Target were worth $213,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Target by 62.2% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Phocas Financial Corp. bought a new stake in Target in the 4th quarter valued at about $25,000. Loeb Partners Corp bought a new stake in Target in the 4th quarter valued at about $28,000. CI Investments Inc. bought a new stake in Target in the 4th quarter valued at about $27,000. Finally, C J Advisory Inc bought a new stake in Target in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

In other Target news, insider Cathy R. Smith sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Edward Mcnamara sold 5,186 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total transaction of $410,627.48. Following the completion of the transaction, the insider now owns 77,550 shares of the company’s stock, valued at $6,140,409. The disclosure for this sale can be found here. Insiders sold a total of 45,736 shares of company stock worth $3,466,370 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Several brokerages recently weighed in on TGT. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 price objective (up from $88.00) on shares of Target in a research report on Thursday, April 18th. Citigroup lifted their price objective on shares of Target from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America set a $105.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Thursday. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Thursday. Finally, UBS Group raised their target price on shares of Target from $77.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday. Twelve equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Target presently has a consensus rating of “Buy” and a consensus target price of $89.97.

Shares of TGT opened at $81.57 on Monday. The company has a market capitalization of $42.05 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 2.09 and a beta of 0.65. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88. Target Co. has a 12-month low of $60.15 and a 12-month high of $90.39.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. The company had revenue of $17.63 billion for the quarter, compared to analysts’ expectations of $17.49 billion. Target had a net margin of 3.96% and a return on equity of 26.48%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS. As a group, research analysts forecast that Target Co. will post 5.94 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.56 annualized dividend and a dividend yield of 3.14%. Target’s dividend payout ratio is currently 47.50%.

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Target Profile

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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