Trillium Asset Management LLC raised its holdings in shares of Target Co. (NYSE:TGT) by 22.3% in the first quarter, Holdings Channel reports. The institutional investor owned 271,820 shares of the retailer’s stock after acquiring an additional 49,575 shares during the period. Target comprises about 1.1% of Trillium Asset Management LLC’s portfolio, making the stock its 22nd biggest holding. Trillium Asset Management LLC’s holdings in Target were worth $21,817,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TGT. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Target by 62.2% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock worth $29,000 after buying an additional 140 shares during the period. Phocas Financial Corp. acquired a new stake in Target in the 4th quarter worth approximately $25,000. Loeb Partners Corp acquired a new stake in Target in the 4th quarter worth approximately $28,000. CI Investments Inc. acquired a new stake in Target in the 4th quarter worth approximately $27,000. Finally, C J Advisory Inc acquired a new stake in Target in the 1st quarter worth approximately $33,000. 82.98% of the stock is owned by hedge funds and other institutional investors.
NYSE TGT traded up $0.28 on Friday, hitting $71.07. 1,553,640 shares of the company’s stock traded hands, compared to its average volume of 5,178,195. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08. Target Co. has a 1-year low of $60.15 and a 1-year high of $90.39. The stock has a market cap of $36.49 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.94 and a beta of 0.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 47.50%.
A number of research firms recently commented on TGT. Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Target in a research note on Friday, May 3rd. Barclays upgraded shares of Target from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $115.00 in a research note on Monday, April 29th. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 target price (up from $88.00) on shares of Target in a research note on Thursday, April 18th. Gordon Haskett upgraded shares of Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. Finally, Evercore ISI began coverage on shares of Target in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. Target presently has an average rating of “Buy” and a consensus price target of $88.29.
In other news, insider Cathy R. Smith sold 30,000 shares of Target stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert M. Harrison sold 1,791 shares of Target stock in a transaction that occurred on Thursday, April 11th. The shares were 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 of the company’s stock, valued at $1,030,474.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,977 shares of company stock valued at $2,774,409. Company insiders own 0.19% of the company’s stock.
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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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