Griffin Asset Management Inc. grew its stake in shares of Target Co. (NYSE:TGT) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,479 shares of the retailer’s stock after purchasing an additional 1,910 shares during the quarter. Griffin Asset Management Inc.’s holdings in Target were worth $4,526,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in Target by 17.2% during the third quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock worth $403,145,000 after buying an additional 671,121 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Target by 33.3% during the 3rd quarter. Janus Henderson Group PLC now owns 754,113 shares of the retailer’s stock valued at $66,522,000 after purchasing an additional 188,206 shares in the last quarter. Martingale Asset Management L P lifted its holdings in shares of Target by 749.3% during the 3rd quarter. Martingale Asset Management L P now owns 75,603 shares of the retailer’s stock valued at $6,669,000 after purchasing an additional 66,701 shares in the last quarter. FMR LLC lifted its holdings in shares of Target by 11.0% during the 3rd quarter. FMR LLC now owns 4,462,508 shares of the retailer’s stock valued at $393,637,000 after purchasing an additional 442,448 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Target during the 3rd quarter valued at about $444,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:TGT traded up $0.58 during trading on Friday, reaching $83.26. 3,162,904 shares of the company traded hands, compared to its average volume of 3,602,837. The company has a market cap of $42.99 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.28 and a beta of 0.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.20 and a current ratio of 0.83. Target Co. has a 52 week low of $60.15 and a 52 week high of $90.39.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.64 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.07%. Target’s dividend payout ratio (DPR) is currently 47.50%.
In other news, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $1,030,474.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Edward Mcnamara sold 5,186 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total value of $410,627.48. Following the transaction, the insider now directly owns 77,550 shares of the company’s stock, valued at approximately $6,140,409. The disclosure for this sale can be found here. Insiders have sold a total of 36,977 shares of company stock valued at $2,774,409 in the last three months. 0.19% of the stock is owned by insiders.
Several equities analysts have recently weighed in on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $92.00 price objective (up previously from $88.00) on shares of Target in a report on Thursday. Gordon Haskett upgraded Target from an “accumulate” rating to a “buy” rating in a report on Thursday, March 21st. Evercore ISI initiated coverage on Target in a research report on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 target price on the stock. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Friday, March 8th. Finally, Deutsche Bank boosted their price target on Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. Target has an average rating of “Hold” and a consensus target price of $87.44.
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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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