Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Target Co. (NYSE:TGT) by 13.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,828 shares of the retailer’s stock after purchasing an additional 17,774 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Target were worth $14,022,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. IMA Wealth Inc. bought a new position in shares of Target in the 1st quarter worth about $28,000. Hall Laurie J Trustee raised its stake in Target by 118.2% during the fourth quarter. Hall Laurie J Trustee now owns 240 shares of the retailer’s stock worth $31,000 after acquiring an additional 130 shares during the period. Howard Wealth Management LLC bought a new position in Target in the fourth quarter worth about $32,000. Retirement Network bought a new position in Target in the fourth quarter worth about $35,000. Finally, Pacitti Group Inc. acquired a new position in Target in the fourth quarter valued at approximately $37,000. 80.49% of the stock is owned by hedge funds and other institutional investors.
TGT stock traded down $1.19 during trading hours on Friday, hitting $117.49. 4,835,356 shares of the stock traded hands, compared to its average volume of 5,780,963. The stock has a 50-day simple moving average of $109.72 and a 200 day simple moving average of $114.20. The company has a market cap of $59.32 billion, a P/E ratio of 21.76, a P/E/G ratio of 4.03 and a beta of 0.75. Target Co. has a one year low of $76.86 and a one year high of $130.24. The company has a current ratio of 1.01, a quick ratio of 0.27 and a debt-to-equity ratio of 1.46.
Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.19. The company had revenue of $19.37 billion during the quarter, compared to the consensus estimate of $19.04 billion. Target had a net margin of 3.46% and a return on equity of 24.17%. Target’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 EPS. Analysts forecast that Target Co. will post 4.62 earnings per share for the current year.
The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.64 annualized dividend and a yield of 2.25%. Target’s dividend payout ratio (DPR) is 41.31%.
In related news, insider Brian C. Cornell sold 110,000 shares of Target stock in a transaction on Monday, May 11th. The stock was sold at an average price of $120.00, for a total value of $13,200,000.00. Following the transaction, the insider now directly owns 208,502 shares in the company, valued at approximately $25,020,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert M. Harrison sold 631 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $102.00, for a total value of $64,362.00. Following the sale, the chief accounting officer now directly owns 9,634 shares in the company, valued at $982,668. The disclosure for this sale can be found here. Insiders sold 111,095 shares of company stock worth $13,314,321 in the last ninety days. 0.24% of the stock is owned by corporate insiders.
TGT has been the topic of several recent research reports. Bank of America raised their price target on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus boosted their price target on shares of Target from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday. UBS Group upped their price target on shares of Target from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday. Robert W. Baird lifted their price objective on shares of Target from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Nomura Instinet boosted their target price on shares of Target from $121.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $128.21.
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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