Cambridge Financial Group Inc. lifted its holdings in Target Co. (NYSE:TGT) by 2.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 81,216 shares of the retailer’s stock after acquiring an additional 1,952 shares during the quarter. Target makes up approximately 3.5% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 10th biggest position. Cambridge Financial Group Inc.’s holdings in Target were worth $6,518,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA grew its position 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 last quarter. Phocas Financial Corp. purchased a new stake in Target during the 4th quarter valued at about $25,000. Loeb Partners Corp purchased a new stake in Target during the 4th quarter valued at about $28,000. CI Investments Inc. purchased a new stake in Target during the 4th quarter valued at about $27,000. Finally, C J Advisory Inc purchased a new stake in Target during the 1st quarter valued at about $33,000. 83.50% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Michael Edward Mcnamara sold 5,186 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total value of $410,627.48. Following the transaction, the insider now owns 77,550 shares in the company, valued at approximately $6,140,409. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 12,836 shares in the company, valued at approximately $1,030,474.08. The disclosure for this sale can be found here. Insiders sold a total of 36,977 shares of company stock worth $2,774,409 in the last quarter. Company insiders own 0.19% of the company’s stock.
Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.53. The business had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $23.05 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 EPS. As a group, analysts expect that Target Co. will post 5.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 47.50%.
TGT has been the topic of several recent analyst reports. Tigress Financial reissued a “buy” rating on shares of Target in a research report on Thursday, January 17th. Citigroup reissued a “neutral” rating and set a $78.00 price objective on shares of Target in a research report on Tuesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $88.00 price objective (up from $86.00) on shares of Target in a research report on Wednesday, March 6th. BMO Capital Markets increased their price objective on shares of Target from $70.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Finally, Deutsche Bank increased their price objective on shares of Target from $80.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $88.29.
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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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