Target Co. (NYSE:TGT) Position Increased by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of Target Co. (NYSE:TGT) by 38.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,328 shares of the retailer’s stock after buying an additional 2,312 shares during the quarter. GAMMA Investing LLC’s holdings in Target were worth $1,233,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TGT. Vanguard Group Inc. grew its holdings in Target by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock valued at $6,401,142,000 after purchasing an additional 417,818 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Target by 9.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after purchasing an additional 868,274 shares during the last quarter. Franklin Resources Inc. grew its holdings in Target by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock valued at $1,357,525,000 after purchasing an additional 137,180 shares during the last quarter. Norges Bank acquired a new stake in shares of Target in the fourth quarter worth $759,810,000. Finally, Clearbridge Investments LLC grew its stake in shares of Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after acquiring an additional 470,647 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT stock traded down $4.87 during trading on Monday, reaching $134.30. 4,275,949 shares of the company’s stock were exchanged, compared to its average volume of 3,864,436. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $62.13 billion, a PE ratio of 15.14, a PEG ratio of 1.38 and a beta of 1.19. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The firm’s fifty day moving average price is $147.70 and its 200-day moving average price is $154.67.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same period last year, the company posted $2.05 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Target Co. will post 9.31 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.34%. Target’s dividend payout ratio (DPR) is currently 50.28%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TGT shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Wednesday, May 22nd. UBS Group cut their price target on Target from $191.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. BNP Paribas started coverage on Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target for the company. Evercore ISI lifted their price target on Target from $165.00 to $166.00 and gave the company an “in-line” rating in a report on Thursday, June 20th. Finally, Morgan Stanley cut their price target on Target from $190.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and an average target price of $176.54.

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.