Wayne Hummer Investments L.L.C. Purchases New Stake in Target Corporation (TGT)

Wayne Hummer Investments L.L.C. acquired a new stake in Target Corporation (NYSE:TGT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,479 shares of the retailer’s stock, valued at approximately $634,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TGT. Berkeley Capital Partners LLC acquired a new position in shares of Target Corporation during the first quarter valued at about $282,000. SG Americas Securities LLC increased its position in shares of Target Corporation by 154.5% in the first quarter. SG Americas Securities LLC now owns 84,136 shares of the retailer’s stock valued at $4,643,000 after buying an additional 238,624 shares during the last quarter. Glenview Trust Co increased its position in shares of Target Corporation by 2.7% in the first quarter. Glenview Trust Co now owns 192,700 shares of the retailer’s stock valued at $10,635,000 after buying an additional 5,111 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Target Corporation by 2.6% in the first quarter. Prudential Financial Inc. now owns 2,634,644 shares of the retailer’s stock valued at $145,406,000 after buying an additional 66,690 shares during the last quarter. Finally, Bank of The Ozarks acquired a new position in shares of Target Corporation during the first quarter valued at about $765,000. 83.00% of the stock is currently owned by institutional investors.

Shares of Target Corporation (NYSE TGT) opened at 51.07 on Monday. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock has a market capitalization of $28.18 billion, a P/E ratio of 10.47 and a beta of 0.60. The company has a 50-day moving average of $54.35 and a 200-day moving average of $60.17.

Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. The business had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. Equities analysts expect that Target Corporation will post $4.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.86%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio is 48.98%.

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Several brokerages have issued reports on TGT. Citigroup Inc. downgraded shares of Target Corporation from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $56.00 in a research report on Wednesday, June 21st. BidaskClub downgraded shares of Target Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 target price on shares of Target Corporation in a report on Tuesday, June 20th. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price on the stock in a report on Monday, June 19th. Finally, Zacks Investment Research raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, June 6th. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.76.

In related news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

About Target Corporation

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

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