Beese Fulmer Investment Management Inc. purchased a new position in shares of Target Co. (NYSE:TGT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,880 shares of the retailer’s stock, valued at approximately $219,000.
Several other hedge funds also recently bought and sold shares of the stock. LSV Asset Management boosted its holdings in shares of Target by 9.0% during the first quarter. LSV Asset Management now owns 7,405,839 shares of the retailer’s stock worth $514,187,000 after purchasing an additional 610,674 shares during the period. American Century Companies Inc. boosted its holdings in shares of Target by 17.1% during the first quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock worth $492,829,000 after purchasing an additional 1,038,937 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Target by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,160,156 shares of the retailer’s stock worth $288,826,000 after purchasing an additional 72,185 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Target by 13.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 3,874,432 shares of the retailer’s stock worth $269,002,000 after purchasing an additional 452,349 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Target by 3.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,593,657 shares of the retailer’s stock worth $110,649,000 after purchasing an additional 55,660 shares during the period. Institutional investors and hedge funds own 85.38% of the company’s stock.
Get Target alerts:In other news, insider Laysha Ward sold 43,926 shares of Target stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $79.33, for a total value of $3,484,649.58. Following the transaction, the insider now owns 90,460 shares of the company’s stock, valued at $7,176,191.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Janna A. Potts sold 5,152 shares of Target stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $75.00, for a total transaction of $386,400.00. Following the completion of the transaction, the insider now directly owns 22,304 shares in the company, valued at approximately $1,672,800. The disclosure for this sale can be found here. In the last three months, insiders sold 51,813 shares of company stock worth $4,076,175. Insiders own 0.19% of the company’s stock.
Several brokerages recently weighed in on TGT. MKM Partners set a $91.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Friday, June 29th. Credit Suisse Group set a $86.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Monday, May 14th. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Susquehanna Bancshares reaffirmed a “positive” rating and set a $84.00 price objective on shares of Target in a research report on Thursday, June 7th. Finally, Guggenheim reaffirmed a “hold” rating on shares of Target in a research report on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.47.
Target opened at $77.76 on Friday, MarketBeat Ratings reports. Target Co. has a 12 month low of $53.90 and a 12 month high of $79.59. The company has a market capitalization of $41.83 billion, a PE ratio of 16.51, a PEG ratio of 2.48 and a beta of 0.72. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.18 and a current ratio of 0.90.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 23rd. The retailer reported $1.32 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.06). Target had a net margin of 4.09% and a return on equity of 23.34%. The firm had revenue of $16.78 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. analysts predict that Target Co. will post 5.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be given a $0.64 dividend. This is a positive change from Target’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, August 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.29%. Target’s dividend payout ratio (DPR) is currently 52.65%.
Target Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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