Mutual of America Capital Management LLC Raises Stake in Target Co. (NYSE:TGT)

Mutual of America Capital Management LLC increased its stake in Target Co. (NYSE:TGT) by 12.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 133,967 shares of the retailer’s stock after buying an additional 15,060 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Target were worth $12,455,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Adell Harriman & Carpenter Inc. raised its stake in Target by 38.0% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 33,765 shares of the retailer’s stock valued at $4,329,000 after acquiring an additional 9,290 shares during the period. B. Riley Wealth Management Inc. raised its stake in Target by 8.1% in the 4th quarter. B. Riley Wealth Management Inc. now owns 3,046 shares of the retailer’s stock valued at $390,000 after acquiring an additional 229 shares during the period. IBM Retirement Fund raised its stake in Target by 47.3% in the 1st quarter. IBM Retirement Fund now owns 13,564 shares of the retailer’s stock valued at $1,261,000 after acquiring an additional 4,357 shares during the period. HighMark Wealth Management LLC bought a new stake in Target in the 4th quarter valued at about $41,000. Finally, Corient Capital Partners LLC raised its stake in Target by 1.2% in the 4th quarter. Corient Capital Partners LLC now owns 7,889 shares of the retailer’s stock valued at $1,012,000 after acquiring an additional 95 shares during the period. 80.49% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the company. Cowen restated a “buy” rating and issued a $150.00 price objective on shares of Target in a research note on Wednesday, April 8th. Nomura decreased their price target on Target from $131.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Telsey Advisory Group reiterated an “outperform” rating on shares of Target in a research report on Wednesday, February 26th. UBS Group upped their price target on Target from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Bank of America upped their price target on Target from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $128.21.

In other news, CAO Robert M. Harrison sold 631 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $102.00, for a total transaction of $64,362.00. Following the completion of the sale, the chief accounting officer now owns 9,634 shares of the company’s stock, valued at $982,668. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 110,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $120.00, for a total value of $13,200,000.00. Following the sale, the insider now directly owns 208,502 shares of the company’s stock, valued at approximately $25,020,240. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,095 shares of company stock valued at $13,314,321. Insiders own 0.24% of the company’s stock.

TGT traded down $1.19 during midday trading on Friday, hitting $117.49. The stock had a trading volume of 4,835,356 shares, compared to its average volume of 5,780,963. The company has a market cap of $59.32 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 4.03 and a beta of 0.75. The business has a fifty day moving average of $109.72 and a 200 day moving average of $114.20. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.27 and a current ratio of 1.01. Target Co. has a 1 year low of $76.86 and a 1 year high of $130.24.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.19. The business had revenue of $19.37 billion during the quarter, compared to analyst estimates of $19.04 billion. Target had a return on equity of 24.17% and a net margin of 3.46%. Target’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 earnings per share. On average, equities research analysts anticipate that Target Co. will post 4.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, May 19th. Target’s dividend payout ratio (DPR) is presently 41.31%.

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 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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