Bogle Investment Management L P DE bought a new position in shares of Target Co. (NYSE:TGT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,874 shares of the retailer’s stock, valued at approximately $9,378,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. increased its position in shares of Target by 154.8% in the first quarter. Franklin Resources Inc. now owns 6,727,055 shares of the retailer’s stock worth $625,413,000 after acquiring an additional 4,087,269 shares in the last quarter. Vantis Investment Advisers L.P. purchased a new position in Target in the 1st quarter worth approximately $5,634,000. GHP Investment Advisors Inc. grew its position in Target by 3.0% in the first quarter. GHP Investment Advisors Inc. now owns 57,082 shares of the retailer’s stock valued at $5,307,000 after acquiring an additional 1,641 shares in the last quarter. JustInvest LLC purchased a new stake in shares of Target during the first quarter valued at approximately $413,000. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Target by 15.3% during the first quarter. Moneta Group Investment Advisors LLC now owns 19,200 shares of the retailer’s stock worth $1,785,000 after purchasing an additional 2,555 shares in the last quarter. Hedge funds and other institutional investors own 81.06% of the company’s stock.
TGT has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Target from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, May 21st. Bank of America lifted their target price on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Morgan Stanley increased their price target on Target from $105.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. Robert W. Baird lifted their price objective on Target from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating on shares of Target in a research report on Wednesday, February 26th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $128.21.
Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.19. Target had a return on equity of 24.17% and a net margin of 3.46%. The company had revenue of $19.37 billion during the quarter, compared to analyst estimates of $19.04 billion. During the same period in the previous year, the company earned $1.53 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Target Co. will post 4.96 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a $0.66 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $2.64 annualized dividend and a yield of 2.23%. Target’s dividend payout ratio is 41.31%.
In related news, insider Brian C. Cornell sold 110,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the transaction, the insider now directly owns 208,502 shares in the company, valued at $25,020,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert M. Harrison sold 631 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $102.00, for a total value 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 approximately $982,668. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,095 shares of company stock worth $13,314,321. Insiders own 0.24% of the company’s stock.
Target Company 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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