Ameritas Investment Partners Inc. lifted its stake in shares of Target Co. (NYSE:TGT) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,564 shares of the retailer’s stock after buying an additional 1,196 shares during the period. Ameritas Investment Partners Inc.’s holdings in Target were worth $1,506,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in TGT. Prestige Wealth Management Group LLC boosted its position in shares of Target by 888.9% during the first quarter. Prestige Wealth Management Group LLC now owns 267 shares of the retailer’s stock valued at $25,000 after buying an additional 240 shares during the last quarter. Vigilant Capital Management LLC lifted its holdings in Target by 689.5% during the first quarter. Vigilant Capital Management LLC now owns 450 shares of the retailer’s stock worth $42,000 after acquiring an additional 393 shares during the period. Capital Square LLC bought a new stake in Target during the first quarter worth $42,000. Stonebridge Financial Planning Group LLC lifted its holdings in Target by 250.0% during the second quarter. Stonebridge Financial Planning Group LLC now owns 350 shares of the retailer’s stock worth $42,000 after acquiring an additional 250 shares during the period. Finally, Hudock Inc. lifted its holdings in Target by 208.7% during the first quarter. Hudock Inc. now owns 463 shares of the retailer’s stock worth $43,000 after acquiring an additional 313 shares during the period. 80.99% of the stock is currently owned by institutional investors.
TGT opened at $136.53 on Friday. The business has a 50 day simple moving average of $122.79 and a two-hundred day simple moving average of $114.08. The firm has a market capitalization of $68.27 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 4.39 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.01 and a quick ratio of 0.42. Target Co. has a one year low of $82.01 and a one year high of $137.00.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 EPS. As a group, sell-side analysts expect that Target Co. will post 4.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.68 per share. This is a positive change from Target’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, August 18th. This represents a $2.72 dividend on an annualized basis and a yield of 1.99%. Target’s dividend payout ratio is presently 41.31%.
A number of brokerages recently commented on TGT. Cleveland Research upgraded Target from a “neutral” rating to a “buy” rating in a report on Friday, June 19th. Deutsche Bank lifted their price target on Target from $121.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Nomura lowered their target price on Target from $131.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Cfra boosted their target price on Target from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. Finally, Raymond James boosted their target price on Target from $150.00 to $160.00 and gave the company a “strong-buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $131.69.
In other news, insider Don H. Liu sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $120.00, for a total value of $480,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Don H. Liu sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $130.00, for a total value of $1,040,000.00. Following the completion of the transaction, the insider now directly owns 75,298 shares of the company’s stock, valued at approximately $9,788,740. The disclosure for this sale can be found here. Insiders sold a total of 37,524 shares of company stock valued at $4,623,219 in the last three months. Corporate insiders own 0.52% of the company’s stock.
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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