Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Target Co. (NYSE:TGT) by 1.9% in the first quarter, Holdings Channel reports. The fund owned 2,035,126 shares of the retailer’s stock after buying an additional 37,072 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Target were worth $163,339,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in TGT. First Command Bank raised its stake in Target by 17.7% during the 1st quarter. First Command Bank now owns 904 shares of the retailer’s stock valued at $73,000 after purchasing an additional 136 shares during the period. Horrell Capital Management Inc. raised its stake in Target by 0.4% during the 1st quarter. Horrell Capital Management Inc. now owns 31,167 shares of the retailer’s stock valued at $2,501,000 after purchasing an additional 138 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Target by 62.2% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Investors Research Corp raised its stake in Target by 0.8% during the 4th quarter. Investors Research Corp now owns 17,742 shares of the retailer’s stock valued at $1,173,000 after purchasing an additional 142 shares during the period. Finally, Monarch Capital Management Inc. raised its stake in Target by 0.7% during the 1st quarter. Monarch Capital Management Inc. now owns 21,519 shares of the retailer’s stock valued at $1,727,000 after purchasing an additional 150 shares during the period. Institutional investors own 82.98% of the company’s stock.
Shares of NYSE TGT traded up $6.96 during mid-day trading on Wednesday, reaching $78.92. The company had a trading volume of 547,267 shares, compared to its average volume of 5,024,378. Target Co. has a twelve month low of $60.15 and a twelve month high of $90.39. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $36.93 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.94 and a beta of 0.65.
Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. The firm had revenue of $17.63 billion for the quarter, compared to the consensus estimate of $17.49 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 earnings per share. As a group, analysts predict that Target Co. will post 5.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 47.50%.
Several analysts have issued reports on TGT shares. Evercore ISI started coverage on shares of Target in a research note on Wednesday, March 20th. They set an “in-line” rating and a $80.00 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $92.00 target price (up from $88.00) on shares of Target in a research note on Thursday, April 18th. Gordon Haskett raised shares of Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. Barclays raised shares of Target from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $115.00 in a research note on Monday, April 29th. Finally, Sanford C. Bernstein reaffirmed a “mkt perform” rating on shares of Target in a research note on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $88.61.
In other Target news, insider Cathy R. Smith sold 30,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $74.00, for a total transaction of $2,220,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the transaction, the insider now directly owns 12,836 shares in the company, valued at $1,030,474.08. The disclosure for this sale can be found here. Insiders have sold 36,977 shares of company stock worth $2,774,409 over the last three months. Company insiders own 0.19% of the company’s stock.
Target Company Profile
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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