Optas LLC Grows Stake in Target Co. (NYSE:TGT)

Optas LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,571 shares of the retailer’s stock after purchasing an additional 156 shares during the period. Optas LLC’s holdings in Target were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TGT. Hopwood Financial Services Inc. acquired a new stake in Target in the fourth quarter worth about $29,000. Bernard Wealth Management Corp. acquired a new stake in Target in the 4th quarter worth approximately $29,000. Legacy Investment Solutions LLC grew its position in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the last quarter. OFI Invest Asset Management acquired a new position in Target during the 4th quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Target in the fourth quarter worth $40,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TGT shares. The Goldman Sachs Group lowered their price target on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Roth Mkm reaffirmed a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Jefferies Financial Group reduced their price target on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Robert W. Baird set a $100.00 price objective on shares of Target in a research note on Thursday, May 22nd. Finally, Oppenheimer cut their price objective on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $116.70.

Target Stock Down 4.1%

Shares of NYSE TGT opened at $95.25 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average of $95.48 and a 200 day moving average of $115.02. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40. The stock has a market cap of $43.28 billion, a PE ratio of 10.10, a P/E/G ratio of 1.94 and a beta of 1.22.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $2.03 earnings per share. As a group, sell-side analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.70%. Target’s payout ratio is 50.11%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.