Great West Life Assurance Co. Can increased its position in shares of Target Co. (NYSE:TGT) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,155,661 shares of the retailer’s stock after acquiring an additional 85,751 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Target were worth $92,528,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. One Capital Management LLC increased its stake in Target by 1.9% in the 4th quarter. One Capital Management LLC now owns 36,001 shares of the retailer’s stock valued at $2,379,000 after buying an additional 656 shares during the period. Lord Abbett & CO. LLC increased its stake in Target by 40.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 897,700 shares of the retailer’s stock valued at $59,329,000 after buying an additional 260,700 shares during the period. Actinver Wealth Management Inc. acquired a new position in Target in the 4th quarter valued at approximately $835,000. Swedbank increased its stake in Target by 4.5% in the 4th quarter. Swedbank now owns 2,349,986 shares of the retailer’s stock valued at $152,655,000 after buying an additional 101,671 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Target by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 52,674 shares of the retailer’s stock valued at $3,481,000 after buying an additional 335 shares during the period. Institutional investors and hedge funds own 82.48% of the company’s stock.
Several research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Target from $77.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup upped their price objective on shares of Target from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America set a $105.00 price objective on shares of Target and gave the company a “buy” rating in a research note on Thursday. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of Target from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $81.00 to $100.00 in a research note on Thursday. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Target currently has a consensus rating of “Buy” and an average price target of $89.97.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.10. The company had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $1.32 EPS. On average, equities research analysts expect that Target Co. will post 5.82 EPS for the current year.
The firm also recently disclosed 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. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 47.50%.
In related news, insider Michael Edward Mcnamara sold 5,186 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total transaction of $410,627.48. Following the completion of the sale, the insider now owns 77,550 shares in the company, valued at approximately $6,140,409. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the sale, the insider now owns 12,836 shares of the company’s stock, valued at approximately $1,030,474.08. 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 over the last ninety days. 0.19% of the stock is owned by insiders.
Target Company 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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