Investors Financial Group LLC Makes New Investment in Target Co. (NYSE:TGT)

Investors Financial Group LLC acquired a new position in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 6,830 shares of the retailer’s stock, valued at approximately $876,000.

A number of other institutional investors also recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Target by 21.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,555,720 shares of the retailer’s stock worth $307,961,000 after acquiring an additional 630,907 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Target by 58.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,190,753 shares of the retailer’s stock worth $341,124,000 after acquiring an additional 1,179,072 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Target by 3.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,166,504 shares of the retailer’s stock worth $231,621,000 after acquiring an additional 79,400 shares during the period. California Public Employees Retirement System raised its stake in shares of Target by 13.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,231,447 shares of the retailer’s stock worth $131,654,000 after buying an additional 145,935 shares in the last quarter. Finally, Man Group plc raised its stake in shares of Target by 113.2% during the 3rd quarter. Man Group plc now owns 1,040,719 shares of the retailer’s stock worth $111,263,000 after buying an additional 552,639 shares in the last quarter. 76.88% of the stock is owned by institutional investors.

In related news, insider Don H. Liu sold 2,274 shares of Target stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $122.20, for a total value of $277,882.80. Following the transaction, the insider now owns 37,616 shares in the company, valued at $4,596,675.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie A. Lundquist sold 6,630 shares of Target stock in a transaction on Monday, November 25th. The shares were sold at an average price of $127.00, for a total value of $842,010.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

A number of equities analysts have recently issued reports on TGT shares. ValuEngine downgraded Target from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Robert W. Baird increased their target price on Target from $115.00 to $140.00 in a research note on Wednesday, November 27th. Zacks Investment Research downgraded Target from a “buy” rating to a “hold” rating and set a $131.00 target price for the company. in a research note on Wednesday, January 22nd. Barclays reissued a “buy” rating and set a $135.00 target price on shares of Target in a research note on Friday, November 22nd. Finally, Telsey Advisory Group increased their target price on Target from $120.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $120.14.

Target stock traded up $1.46 during mid-day trading on Monday, hitting $115.78. 6,776,495 shares of the company were exchanged, compared to its average volume of 5,651,468. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.83 and a quick ratio of 0.15. The business’s 50 day simple moving average is $124.50 and its two-hundred day simple moving average is $108.83. The company has a market capitalization of $57.93 billion, a P/E ratio of 18.50, a PEG ratio of 2.39 and a beta of 0.56. Target Co. has a 12-month low of $69.07 and a 12-month high of $130.24.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.17. Target had a return on equity of 28.22% and a net margin of 4.18%. The business had revenue of $18.41 billion for the quarter, compared to analysts’ expectations of $18.45 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Target Co. will post 6.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, February 18th. Target’s dividend payout ratio (DPR) is 48.98%.

About Target

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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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