McKinley Carter Wealth Services Inc. grew its position in Target Co. (NYSE:TGT) by 8.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,443 shares of the retailer’s stock after acquiring an additional 919 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Target were worth $918,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Vanguard Group Inc boosted its stake in shares of Target by 0.4% during the third quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock valued at $3,381,221,000 after purchasing an additional 151,096 shares during the period. FNY Investment Advisers LLC purchased a new stake in Target in the fourth quarter worth $161,000. Eukles Asset Management purchased a new stake in Target in the fourth quarter worth $33,000. Opera Trading Capital purchased a new stake in Target in the fourth quarter worth $397,000. Finally, Intact Investment Management Inc. lifted its stake in Target by 2.8% in the fourth quarter. Intact Investment Management Inc. now owns 44,800 shares of the retailer’s stock worth $2,961,000 after acquiring an additional 1,200 shares during the period. 82.98% of the stock is owned by institutional investors and hedge funds.
In other news, insider Michael Edward Mcnamara sold 5,186 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total transaction of $410,627.48. Following the completion of the transaction, the insider now directly owns 77,550 shares in the company, valued at $6,140,409. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Harrison sold 1,791 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.28, for a total value of $143,781.48. Following the transaction, the insider now owns 12,836 shares of the company’s stock, valued at $1,030,474.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,977 shares of company stock valued at $2,774,409. 0.19% of the stock is owned by corporate insiders.
Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $1.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.53. The business had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.05 billion. Target had a return on equity of 25.74% and a net margin of 3.90%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. On average, equities analysts predict that Target Co. will post 5.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $0.64 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.56%. Target’s dividend payout ratio (DPR) is 47.50%.
TGT has been the subject of a number of research analyst reports. Gordon Haskett raised Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Friday, March 8th. Morgan Stanley raised Target from an “underweight” rating to an “equal weight” rating and set a $67.00 price target for the company in a research note on Monday. Deutsche Bank raised their price target on Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI initiated coverage on Target in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $88.61.
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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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