Chartwell Investment Partners LLC increased its position in Target Co. (NYSE:TGT) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,404 shares of the retailer’s stock after acquiring an additional 86 shares during the period. Chartwell Investment Partners LLC’s holdings in Target were worth $3,646,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Macquarie Group Ltd. increased its holdings in shares of Target by 353.4% during the fourth quarter. Macquarie Group Ltd. now owns 176,983 shares of the retailer’s stock valued at $22,691,000 after purchasing an additional 137,949 shares during the period. Pensionfund Sabic raised its position in shares of Target by 5.3% during the 1st quarter. Pensionfund Sabic now owns 20,000 shares of the retailer’s stock worth $1,859,000 after buying an additional 1,000 shares in the last quarter. American National Bank lifted its stake in shares of Target by 14.0% in the 1st quarter. American National Bank now owns 61,945 shares of the retailer’s stock worth $5,759,000 after acquiring an additional 7,587 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Target by 7.6% in the first quarter. State of Alaska Department of Revenue now owns 199,533 shares of the retailer’s stock valued at $18,549,000 after acquiring an additional 14,036 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Target by 0.4% during the first quarter. Gradient Investments LLC now owns 90,542 shares of the retailer’s stock valued at $8,418,000 after acquiring an additional 383 shares during the period. Hedge funds and other institutional investors own 80.99% of the company’s stock.
In other Target news, insider Don H. Liu sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $125.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 68,330 shares of the company’s stock, valued at $8,541,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 110,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the transaction, the insider now owns 208,502 shares in the company, valued at approximately $25,020,240. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,524 shares of company stock valued at $16,783,219. 0.52% of the stock is owned by corporate insiders.
Shares of TGT opened at $125.88 on Friday. The company has a market capitalization of $62.94 billion, a PE ratio of 23.31, a PEG ratio of 4.20 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.42 and a current ratio of 1.01. The company’s 50 day moving average price is $119.96 and its 200 day moving average price is $113.35. Target Co. has a 52 week low of $80.03 and a 52 week high of $130.24.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.19. The business had revenue of $19.37 billion for the quarter, compared to the consensus estimate of $19.04 billion. Target had a net margin of 3.46% and a return on equity of 24.17%. Target’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 earnings per share. On average, equities analysts forecast that Target Co. will post 4.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This is an increase from Target’s previous quarterly dividend of $0.66. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.16%. Target’s dividend payout ratio (DPR) is 41.31%.
TGT has been the subject of a number of research reports. Stifel Nicolaus increased their price target on Target from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, May 21st. Cowen reaffirmed a “buy” rating and set a $150.00 target price on shares of Target in a report on Wednesday, April 8th. Nomura Instinet upped their price target on shares of Target from $121.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Deutsche Bank raised their price objective on shares of Target from $121.00 to $131.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Finally, Cleveland Research upgraded shares of Target from a “neutral” rating to a “buy” rating in a report on Friday, June 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $128.08.
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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