Harvest Fund Management Co. Ltd Sells 2,246 Shares of Target Co. (NYSE:TGT)

Harvest Fund Management Co. Ltd reduced its stake in shares of Target Co. (NYSE:TGT) by 83.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 433 shares of the retailer’s stock after selling 2,246 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Target were worth $40,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Mandatum Life Insurance Co Ltd grew its stake in shares of Target by 61.1% during the first quarter. Mandatum Life Insurance Co Ltd now owns 23,961 shares of the retailer’s stock valued at $2,228,000 after buying an additional 9,088 shares during the last quarter. Swiss National Bank grew its stake in shares of Target by 22.1% during the first quarter. Swiss National Bank now owns 1,966,669 shares of the retailer’s stock valued at $182,841,000 after buying an additional 355,500 shares during the last quarter. Frontier Wealth Management LLC grew its stake in shares of Target by 31.0% during the first quarter. Frontier Wealth Management LLC now owns 18,991 shares of the retailer’s stock valued at $1,766,000 after buying an additional 4,496 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Target by 17.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 118,201 shares of the retailer’s stock valued at $10,989,000 after buying an additional 17,769 shares during the last quarter. Finally, Homrich & Berg grew its stake in shares of Target by 111.2% during the first quarter. Homrich & Berg now owns 5,975 shares of the retailer’s stock valued at $556,000 after buying an additional 3,146 shares during the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

TGT stock opened at $118.68 on Friday. The firm has a market capitalization of $59.79 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 4.07 and a beta of 0.75. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.27 and a current ratio of 1.01. The firm has a 50 day moving average price of $109.21 and a 200-day moving average price of $114.13. Target Co. has a 52-week low of $76.80 and a 52-week high of $130.24.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.19. The company had revenue of $19.37 billion during the quarter, compared to the consensus estimate of $19.04 billion. Target had a net margin of 3.46% and a return on equity of 24.17%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 earnings per share. As a group, sell-side analysts forecast that Target Co. will post 4.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, May 19th. Target’s dividend payout ratio (DPR) is currently 41.31%.

In related news, insider Brian C. Cornell sold 110,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the completion of the sale, the insider now owns 208,502 shares of the company’s stock, valued at $25,020,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert M. Harrison sold 464 shares of Target stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $107.67, for a total transaction of $49,958.88. The disclosure for this sale can be found here. Insiders have sold 111,095 shares of company stock valued at $13,314,321 in the last three months. 0.24% of the stock is owned by insiders.

TGT has been the topic of several recent analyst reports. Nomura Instinet raised their target price on Target from $121.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley cut their target price on Target from $110.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 5th. Robert W. Baird raised their target price on Target from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group raised their target price on Target from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Nomura Securities reissued a “buy” rating and issued a $131.00 target price on shares of Target in a research note on Monday, March 23rd. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $127.58.

Target 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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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