IFM Investors Pty Ltd Raises Stock Holdings in Target Co. (NYSE:TGT)

IFM Investors Pty Ltd boosted its stake in Target Co. (NYSE:TGTGet Rating) by 6.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,527 shares of the retailer’s stock after buying an additional 4,901 shares during the period. IFM Investors Pty Ltd’s holdings in Target were worth $11,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Landmark Wealth Management LLC purchased a new stake in Target during the first quarter worth about $25,000. Blume Capital Management Inc. purchased a new stake in Target during the first quarter worth about $25,000. Delos Wealth Advisors LLC purchased a new stake in Target during the fourth quarter worth about $29,000. Roble Belko & Company Inc purchased a new stake in Target during the first quarter worth about $32,000. Finally, Cornerstone Advisory LLC purchased a new stake in Target during the fourth quarter worth about $36,000. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Down 3.8 %

NYSE TGT opened at $152.96 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.14 and a current ratio of 0.82. The firm has a market cap of $70.40 billion, a PE ratio of 17.38, a P/E/G ratio of 1.99 and a beta of 1.02. Target Co. has a one year low of $137.16 and a one year high of $268.98. The firm’s fifty day moving average is $163.84 and its two-hundred day moving average is $182.03.

Target (NYSE:TGTGet Rating) last posted its quarterly earnings data on Wednesday, August 17th. The retailer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). Target had a net margin of 3.92% and a return on equity of 35.15%. The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $26.07 billion. During the same quarter in the prior year, the firm posted $3.64 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Target Co. will post 8.11 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.82%. Target’s dividend payout ratio (DPR) is 49.09%.

Insider Transactions at Target

In other news, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at $488,725.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Target news, insider John J. Mulligan sold 39,101 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the transaction, the insider now directly owns 118,425 shares in the company, valued at $19,660,918.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew A. Liegel sold 1,226 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now owns 2,812 shares in the company, valued at $488,725.60. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TGT shares. Guggenheim boosted their price target on shares of Target to $190.00 in a research note on Monday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of Target from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. TheStreet downgraded Target from a “b-” rating to a “c+” rating in a research report on Friday, June 24th. Morgan Stanley lowered their price objective on Target from $255.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 8th. Finally, Raymond James boosted their price objective on Target from $190.00 to $200.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 18th. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus price target of $193.67.

Target Profile

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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