M.D. Sass Investors Services Inc. Takes Position in Target Co. (NYSE:TGT)

M.D. Sass Investors Services Inc. bought a new stake in Target Co. (NYSE:TGT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 116,468 shares of the retailer’s stock, valued at approximately $10,087,000. Target comprises 2.3% of M.D. Sass Investors Services Inc.’s portfolio, making the stock its 22nd biggest position.

Several other large investors also recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC bought a new stake in shares of Target in the 2nd quarter valued at about $25,000. Advisory Alpha LLC bought a new stake in Target in the first quarter valued at approximately $30,000. Icon Wealth Partners LLC bought a new stake in Target in the first quarter valued at approximately $31,000. Larson Financial Group LLC bought a new stake in Target in the second quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Target in the second quarter valued at approximately $37,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.

In other Target news, Director Roxanne S. Austin sold 4,163 shares of Target stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $89.00, for a total value of $370,507.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laysha Ward sold 20,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $110.23, for a total transaction of $2,204,600.00. Following the completion of the sale, the insider now directly owns 88,171 shares of the company’s stock, valued at approximately $9,719,089.33. The disclosure for this sale can be found here. Insiders sold 97,532 shares of company stock worth $10,121,671 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on TGT shares. Robert W. Baird set a $115.00 target price on Target and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Barclays set a $115.00 price target on Target and gave the company a “buy” rating in a research note on Wednesday, August 21st. Cowen set a $120.00 price target on Target and gave the company a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. set a $115.00 price objective on shares of Target and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank raised shares of Target from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $99.00 in a research report on Monday, August 5th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Target has a consensus rating of “Buy” and an average price target of $102.37.

TGT traded up $0.14 during trading on Wednesday, hitting $108.97. The stock had a trading volume of 3,527,727 shares, compared to its average volume of 7,995,068. The company has a 50 day moving average price of $93.78 and a 200-day moving average price of $84.06. The firm has a market cap of $55.15 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.49 and a beta of 0.53. Target Co. has a one year low of $60.15 and a one year high of $110.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.84 and a quick ratio of 0.21.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.21. Target had a return on equity of 27.43% and a net margin of 4.10%. The firm had revenue of $18.42 billion for the quarter, compared to analysts’ expectations of $18.32 billion. During the same quarter last year, the business earned $1.47 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Target Co. will post 6.13 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, August 20th. This is a boost from Target’s previous quarterly dividend of $0.64. Target’s payout ratio is presently 48.98%.

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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