Royal Fund Management LLC purchased a new position in shares of Target Co. (NYSE:TGT) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 543 shares of the retailer’s stock, valued at approximately $50,000.
A number of other institutional investors and hedge funds have also bought and sold shares of TGT. Davis R M Inc. boosted its position in Target by 10.4% during the fourth quarter. Davis R M Inc. now owns 2,125 shares of the retailer’s stock worth $272,000 after acquiring an additional 200 shares during the last quarter. Executive Wealth Management LLC acquired a new position in Target in the 4th quarter valued at about $535,000. J.W. Cole Advisors Inc. acquired a new position in Target in the 4th quarter valued at about $837,000. Nwam LLC acquired a new position in Target in the 4th quarter valued at about $263,000. Finally, Segment Wealth Management LLC acquired a new position in Target in the 4th quarter valued at about $217,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.
In other Target news, CAO Robert M. Harrison sold 464 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $107.67, for a total value of $49,958.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 110,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the completion of the sale, the insider now directly owns 208,502 shares in the company, valued at $25,020,240. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,095 shares of company stock worth $13,314,321. Insiders own 0.24% of the company’s stock.
Shares of TGT opened at $117.49 on Friday. Target Co. has a fifty-two week low of $76.86 and a fifty-two week high of $130.24. The firm’s 50 day moving average price is $109.72 and its 200 day moving average price is $114.20. The company has a market cap of $59.32 billion, a P/E ratio of 21.76, a PEG ratio of 4.03 and a beta of 0.75. The company has a quick ratio of 0.27, a current ratio of 1.01 and a debt-to-equity ratio of 1.46.
Target (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.19. Target had a net margin of 3.46% and a return on equity of 24.17%. The firm had revenue of $19.37 billion for the quarter, compared to the consensus estimate of $19.04 billion. During the same period in the prior year, the firm earned $1.53 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts forecast that Target Co. will post 4.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Tuesday, May 19th. Target’s dividend payout ratio is presently 41.31%.
Several equities analysts have weighed in on the stock. Nomura Securities reiterated a “buy” rating and issued a $131.00 target price on shares of Target in a report on Monday, March 23rd. BMO Capital Markets reiterated a “buy” rating and issued a $125.00 target price on shares of Target in a report on Wednesday. Robert W. Baird boosted their target price on shares of Target from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday. Cowen reiterated a “buy” rating and issued a $150.00 target price on shares of Target in a report on Wednesday, April 8th. Finally, Bank of America boosted their target price on shares of Target from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Target has an average rating of “Buy” and an average target price of $128.21.
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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