Target Co. (NYSE:TGT) Holdings Lifted by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. increased its holdings in shares of Target Co. (NYSE:TGT) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,041 shares of the retailer’s stock after buying an additional 784 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Target were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. LSV Asset Management grew its stake in Target by 2.4% in the first quarter. LSV Asset Management now owns 7,391,837 shares of the retailer’s stock valued at $593,268,000 after purchasing an additional 171,019 shares in the last quarter. Geode Capital Management LLC grew its stake in Target by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock valued at $460,727,000 after purchasing an additional 381,831 shares in the last quarter. American Century Companies Inc. grew its stake in Target by 18.8% in the first quarter. American Century Companies Inc. now owns 3,178,060 shares of the retailer’s stock valued at $255,071,000 after purchasing an additional 502,098 shares in the last quarter. Nordea Investment Management AB grew its stake in Target by 59.7% in the first quarter. Nordea Investment Management AB now owns 2,893,715 shares of the retailer’s stock valued at $232,253,000 after purchasing an additional 1,081,856 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Target by 1.8% in the first quarter. Parametric Portfolio Associates LLC now owns 2,658,165 shares of the retailer’s stock valued at $213,344,000 after purchasing an additional 46,261 shares in the last quarter. Institutional investors and hedge funds own 83.15% of the company’s stock.

In related news, Director Roxanne S. Austin sold 4,163 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $89.00, for a total transaction of $370,507.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie A. Lundquist sold 8,367 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total value of $736,379.67. The disclosure for this sale can be found here. Insiders have sold a total of 33,180 shares of company stock valued at $2,854,650 in the last three months. 0.24% of the stock is owned by insiders.

Shares of TGT traded down $0.03 during trading hours on Wednesday, hitting $82.74. 2,291,518 shares of the company were exchanged, compared to its average volume of 4,291,804. The company has a market capitalization of $41.77 billion, a P/E ratio of 15.35, a PEG ratio of 1.95 and a beta of 0.61. The company’s 50 day simple moving average is $86.74. Target Co. has a 52 week low of $60.15 and a 52 week high of $90.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 26.48% and a net margin of 3.96%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 EPS. On average, equities analysts expect that Target Co. will post 5.92 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, August 20th. This is a boost from Target’s previous quarterly dividend of $0.64. Target’s payout ratio is currently 47.50%.

A number of brokerages have commented on TGT. Sanford C. Bernstein restated a “mkt perform” rating on shares of Target in a research note on Friday, May 3rd. Morgan Stanley upgraded Target from an “underweight” rating to an “equal weight” rating and set a $67.00 target price on the stock in a research note on Monday, May 20th. Telsey Advisory Group restated an “outperform” rating and issued a $92.00 target price (up previously from $88.00) on shares of Target in a research note on Thursday, April 18th. Bank of America set a $105.00 target price on Target and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Credit Suisse Group set a $90.00 target price on Target and gave the company a “buy” rating in a research note on Thursday, May 23rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $90.52.

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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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