Scopus Asset Management L.P. Makes New Investment in Target Co. (NYSE:TGT)

Scopus Asset Management L.P. bought a new position in shares of Target Co. (NYSE:TGT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 312,500 shares of the retailer’s stock, valued at approximately $61,897,000.

Other institutional investors also recently bought and sold shares of the company. Citizens National Bank Trust Department raised its holdings in shares of Target by 0.8% in the first quarter. Citizens National Bank Trust Department now owns 6,250 shares of the retailer’s stock valued at $1,238,000 after acquiring an additional 50 shares in the last quarter. Arbor Investment Advisors LLC raised its holdings in shares of Target by 2.5% in the 1st quarter. Arbor Investment Advisors LLC now owns 2,209 shares of the retailer’s stock valued at $438,000 after purchasing an additional 53 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Target by 7.2% in the 1st quarter. Lindbrook Capital LLC now owns 809 shares of the retailer’s stock valued at $160,000 after purchasing an additional 54 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in shares of Target by 21.6% in the 1st quarter. Laurel Wealth Advisors LLC now owns 304 shares of the retailer’s stock worth $60,000 after purchasing an additional 54 shares during the period. Finally, Center for Financial Planning Inc. boosted its stake in shares of Target by 11.5% during the first quarter. Center for Financial Planning Inc. now owns 532 shares of the retailer’s stock valued at $105,000 after purchasing an additional 55 shares in the last quarter. 78.52% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the company. MKM Partners upped their target price on Target from $170.00 to $216.00 and gave the stock a “neutral” rating in a report on Tuesday, May 25th. Evercore ISI reaffirmed a “hold” rating on shares of Target in a research report on Sunday, May 23rd. UBS Group upgraded Target from a “neutral” rating to a “buy” rating and lifted their target price for the company from $210.00 to $265.00 in a research note on Tuesday, June 8th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on shares of Target from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, May 24th. Finally, Stifel Nicolaus lifted their price objective on shares of Target from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, March 30th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Target currently has an average rating of “Buy” and an average target price of $234.39.

Shares of Target stock traded down $0.10 on Thursday, reaching $255.95. 71,444 shares of the stock were exchanged, compared to its average volume of 2,551,300. The company has a 50 day simple moving average of $235.25. The company has a market capitalization of $126.62 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. Target Co. has a twelve month low of $120.00 and a twelve month high of $256.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.07 and a quick ratio of 0.51.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, May 18th. The retailer reported $3.69 EPS for the quarter, beating the consensus estimate of $2.25 by $1.44. The business had revenue of $23.88 billion during the quarter, compared to analysts’ expectations of $21.13 billion. Target had a net margin of 6.30% and a return on equity of 45.70%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. On average, research analysts predict that Target Co. will post 12.1 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Wednesday, August 18th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.41%. This is a positive change from Target’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, August 17th. Target’s dividend payout ratio is presently 28.87%.

In related news, insider Cara A. Sylvester sold 1,950 shares of the business’s stock in a transaction on Thursday, May 27th. The shares were sold at an average price of $227.56, for a total value of $443,742.00. Following the completion of the transaction, the insider now directly owns 7,360 shares in the company, valued at approximately $1,674,841.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Don H. Liu sold 13,985 shares of Target stock in a transaction on Friday, July 16th. The shares were sold at an average price of $253.90, for a total transaction of $3,550,791.50. The disclosure for this sale can be found here. Insiders have sold a total of 20,693 shares of company stock worth $5,032,015 over the last ninety days. 0.52% of the stock is owned by insiders.

About Target

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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