Gradient Investments LLC Increases Position in Target Co. (NYSE:TGT)

Gradient Investments LLC grew its holdings in Target Co. (NYSE:TGT) by 27,060.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,345 shares of the retailer’s stock after buying an additional 92,005 shares during the quarter. Gradient Investments LLC’s holdings in Target were worth $7,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TGT. Phocas Financial Corp. acquired a new position in shares of Target during the fourth quarter worth about $25,000. Loeb Partners Corp acquired a new position in shares of Target during the fourth quarter worth about $28,000. CI Investments Inc. acquired a new position in shares of Target during the fourth quarter worth about $27,000. Lindbrook Capital LLC acquired a new position in shares of Target during the fourth quarter worth about $32,000. Finally, Eukles Asset Management acquired a new position in shares of Target in the fourth quarter worth about $33,000. 83.93% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE TGT traded down $0.48 during mid-day trading on Friday, reaching $75.94. The company had a trading volume of 5,774,231 shares, compared to its average volume of 4,351,575. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $39.15 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 2.08 and a beta of 0.65. Target Co. has a twelve month low of $60.15 and a twelve month high of $90.39.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.53. The firm had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $23.05 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 earnings per share. As a group, analysts predict that Target Co. will post 5.81 EPS for the current 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 given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio is currently 47.50%.

In other news, insider Cathy R. Smith sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $74.00, for a total value of $2,220,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Edward Mcnamara sold 5,186 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total value of $410,627.48. Following the completion of the sale, the insider now directly owns 77,550 shares in the company, valued at $6,140,409. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,977 shares of company stock worth $2,774,409. 0.19% of the stock is currently owned by company insiders.

Several research analysts recently commented on TGT shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 price target (up previously from $88.00) on shares of Target in a research note on Thursday, April 18th. Sanford C. Bernstein restated a “mkt perform” rating on shares of Target in a research note on Friday. BMO Capital Markets upped their target price on Target from $70.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Friday, March 8th. Finally, Evercore ISI started coverage on Target in a report on Wednesday, March 20th. They set an “in-line” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. Target currently has an average rating of “Buy” and an average price target of $88.29.

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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 décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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