Griffin Asset Management Inc. Purchases 1,910 Shares of Target Co. (TGT)

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.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.53. The firm 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 company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. Research analysts predict that Target Co. will post 5.79 EPS for the current fiscal year.

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.

WARNING: This piece was originally reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/griffin-asset-management-inc-grows-holdings-in-target-co-tgt.html.

About Target

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.

Featured Article: The Structure of a Futures Contract

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.