Norinchukin Bank The trimmed its position in Target Co. (NYSE:TGT) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,408 shares of the retailer’s stock after selling 3,030 shares during the quarter. Norinchukin Bank The’s holdings in Target were worth $5,652,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lee Financial Co grew its holdings in Target by 168.7% in the 1st quarter. Lee Financial Co now owns 1,435 shares of the retailer’s stock valued at $100,000 after buying an additional 901 shares in the last quarter. Westside Investment Management Inc. grew its holdings in Target by 128.6% in the 4th quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock valued at $107,000 after buying an additional 900 shares in the last quarter. Signaturefd LLC acquired a new position in Target in the 1st quarter valued at $112,000. First Mercantile Trust Co. acquired a new position in Target in the 4th quarter valued at $124,000. Finally, SWS Partners acquired a new position in Target in the 4th quarter valued at $132,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TGT stock opened at $71.21 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.90 and a debt-to-equity ratio of 1.18. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70. The firm has a market cap of $38.16 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 2.57 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Wednesday, May 16th will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.48%. Target’s dividend payout ratio is currently 52.65%.
A number of research analysts have commented on TGT shares. Wolfe Research raised Target from an “underperform” rating to a “market perform” rating in a report on Monday, April 16th. Robert W. Baird raised Target from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $75.00 to $85.00 in a report on Wednesday, February 14th. Cowen set a $80.00 target price on Target and gave the stock a “hold” rating in a report on Thursday, February 8th. Vetr lowered Target from a “hold” rating to a “sell” rating and set a $73.66 target price on the stock. in a report on Thursday, February 15th. Finally, Citigroup reissued a “neutral” rating and set a $80.00 target price (down from $86.00) on shares of Target in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $74.16.
In other Target news, insider Don H. Liu sold 2,735 shares of the stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $75.00, for a total value of $205,125.00. Following the completion of the transaction, the insider now directly owns 62,210 shares in the company, valued at $4,665,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Mulligan sold 118,373 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total value of $8,211,535.01. Following the completion of the transaction, the insider now owns 195,906 shares of the company’s stock, valued at $13,589,999.22. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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