Washington Capital Management Inc. boosted its position in Target Co. (NYSE:TGT) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,525 shares of the retailer’s stock after buying an additional 820 shares during the quarter. Target makes up about 2.6% of Washington Capital Management Inc.’s holdings, making the stock its 4th biggest position. Washington Capital Management Inc.’s holdings in Target were worth $2,297,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of TGT. Comerica Securities Inc. boosted its stake in shares of Target by 12.9% in the fourth quarter. Comerica Securities Inc. now owns 8,930 shares of the retailer’s stock worth $590,000 after buying an additional 1,020 shares during the last quarter. Geode Capital Management LLC raised its holdings in Target by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock worth $460,727,000 after purchasing an additional 381,831 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Target in the 1st quarter worth about $3,182,000. Bailard Inc. raised its holdings in Target by 2.2% in the 1st quarter. Bailard Inc. now owns 70,231 shares of the retailer’s stock worth $5,637,000 after purchasing an additional 1,539 shares during the period. Finally, Clean Yield Group raised its holdings in Target by 55.6% in the 1st quarter. Clean Yield Group now owns 1,035 shares of the retailer’s stock worth $83,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 82.12% of the company’s stock.
A number of equities analysts recently weighed in on TGT shares. Goldman Sachs Group started coverage on Target in a report on Thursday, July 11th. They issued a “buy” rating and a $102.00 price target for the company. Credit Suisse Group set a $90.00 price target on Target and gave the stock a “buy” rating in a report on Thursday, May 23rd. Sanford C. Bernstein reaffirmed a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. Morgan Stanley upped their price target on Target from $76.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $117.00 price target (up previously from $102.00) on shares of Target in a report on Thursday. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Target presently has an average rating of “Buy” and an average price target of $102.37.
Shares of NYSE:TGT traded down $2.83 during midday trading on Friday, hitting $103.49. The company had a trading volume of 7,959,850 shares, compared to its average volume of 8,036,583. Target Co. has a twelve month low of $60.15 and a twelve month high of $106.52. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.84 and a quick ratio of 0.19. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The business’s 50-day simple moving average is $86.87 and its 200-day simple moving average is $80.90.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, beating the consensus estimate of $1.61 by $0.21. Target had a return on equity of 27.43% and a net margin of 4.10%. The firm had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. During the same quarter last year, the firm earned $1.47 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Target Co. will post 6.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, August 20th. This is a boost from Target’s previous quarterly dividend of $0.64. Target’s dividend payout ratio (DPR) is currently 48.98%.
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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