Panagora Asset Management Inc. Boosts Stake in Target Co. (NYSE:TGT)

Panagora Asset Management Inc. lifted its holdings in Target Co. (NYSE:TGT) by 8.7% during the first quarter, Holdings Channel reports. The institutional investor owned 565,399 shares of the retailer’s stock after purchasing an additional 45,060 shares during the quarter. Target comprises 0.6% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Panagora Asset Management Inc.’s holdings in Target were worth $111,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Insight Wealth Strategies LLC boosted its stake in shares of Target by 72.7% in the first quarter. Insight Wealth Strategies LLC now owns 9,837 shares of the retailer’s stock valued at $1,949,000 after buying an additional 4,142 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Target by 42.1% in the first quarter. Ritholtz Wealth Management now owns 4,882 shares of the retailer’s stock valued at $967,000 after buying an additional 1,447 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Target in the first quarter valued at approximately $174,000. Norinchukin Bank The boosted its stake in shares of Target by 1.7% in the first quarter. Norinchukin Bank The now owns 41,675 shares of the retailer’s stock valued at $8,255,000 after buying an additional 690 shares in the last quarter. Finally, Alpha DNA Investment Management LLC boosted its stake in shares of Target by 35.1% in the first quarter. Alpha DNA Investment Management LLC now owns 404 shares of the retailer’s stock valued at $79,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.

A number of analysts have commented on the company. MKM Partners boosted their target price on Target from $170.00 to $216.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 25th. Stifel Nicolaus boosted their target price on Target from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, March 30th. DA Davidson decreased their target price on Target from $229.00 to $210.00 and set a “buy” rating on the stock in a research report on Wednesday, March 3rd. Jefferies Financial Group decreased their target price on Target from $205.00 to $188.00 and set a “hold” rating on the stock in a research report on Wednesday, March 3rd. Finally, Credit Suisse Group boosted their target price on Target from $211.00 to $245.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 25th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Target currently has a consensus rating of “Buy” and an average price target of $231.06.

Target stock traded up $0.54 during trading on Friday, hitting $232.20. The company’s stock had a trading volume of 7,054 shares, compared to its average volume of 3,725,660. The stock has a market capitalization of $114.87 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. The stock has a fifty day moving average price of $214.25. Target Co. has a 1-year low of $114.81 and a 1-year high of $236.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.07 and a quick ratio of 0.51.

Target (NYSE:TGT) last released its earnings results on Tuesday, May 18th. The retailer reported $3.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.25 by $1.44. The firm had revenue of $23.88 billion during the quarter, compared to analyst estimates of $21.13 billion. Target had a return on equity of 45.70% and a net margin of 6.30%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. Equities research analysts forecast that Target Co. will post 11.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Wednesday, August 18th will be paid a $0.90 dividend. This is a positive change from Target’s previous quarterly dividend of $0.68. This represents a $3.60 annualized dividend and a yield of 1.55%. The ex-dividend date is Tuesday, August 17th. Target’s dividend payout ratio is presently 28.87%.

In other Target news, insider Christina Hennington sold 1,852 shares of the company’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $183.00, for a total transaction of $338,916.00. Following the completion of the sale, the insider now directly owns 25,249 shares in the company, valued at $4,620,567. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cara A. Sylvester sold 1,950 shares of the company’s stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $227.56, for a total value of $443,742.00. Following the sale, the insider now owns 7,360 shares of the company’s stock, valued at $1,674,841.60. The disclosure for this sale can be found here. Insiders sold 46,218 shares of company stock valued at $9,483,744 over the last quarter. Insiders own 0.52% of the company’s stock.

About Target

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.

See Also: What are Institutional Investors?

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).

Institutional Ownership by Quarter for Target (NYSE:TGT)

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