The Manufacturers Life Insurance Company raised its position in Target Co. (NYSE:TGT) by 13.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 698,333 shares of the retailer’s stock after buying an additional 80,156 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of Target worth $48,484,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. TIAA CREF Investment Management LLC increased its holdings in Target by 85.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 3,299,194 shares of the retailer’s stock valued at $215,272,000 after buying an additional 1,515,618 shares in the last quarter. American Century Companies Inc. increased its holdings in Target by 17.1% in the first quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock valued at $492,829,000 after buying an additional 1,038,937 shares in the last quarter. Teachers Advisors LLC increased its holdings in Target by 101.8% in the fourth quarter. Teachers Advisors LLC now owns 1,879,844 shares of the retailer’s stock valued at $122,660,000 after buying an additional 948,075 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Target by 9.4% in the fourth quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock valued at $695,229,000 after buying an additional 916,178 shares in the last quarter. Finally, Argent Capital Management LLC purchased a new position in Target in the first quarter valued at $59,281,000. 85.47% of the stock is owned by institutional investors.
Target opened at $77.25 on Friday, according to MarketBeat.com. The stock has a market cap of $41.18 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 2.45 and a beta of 0.72. Target Co. has a twelve month low of $48.56 and a twelve month high of $79.59. The company has a current ratio of 0.90, a quick ratio of 0.18 and a debt-to-equity ratio of 1.18.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.31%. This is a positive change from Target’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, August 14th. Target’s payout ratio is presently 52.65%.
A number of research analysts have weighed in on TGT shares. Credit Suisse Group started coverage on shares of Target in a report on Monday, February 26th. They issued an “outperform” rating and a $86.00 price objective for the company. Vetr cut shares of Target from a “hold” rating to a “sell” rating and set a $73.66 target price for the company. in a research note on Tuesday, February 27th. Susquehanna Bancshares set a $95.00 target price on shares of Target and gave the stock a “buy” rating in a research note on Monday, March 5th. Telsey Advisory Group cut their target price on shares of Target from $83.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, March 7th. Finally, Morgan Stanley set a $64.00 target price on shares of Target and gave the stock a “sell” rating in a research note on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Target presently has a consensus rating of “Hold” and a consensus price target of $73.58.
In other Target news, insider Don H. Liu sold 2,735 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total value of $205,125.00. Following the transaction, the insider now directly owns 62,210 shares in the company, valued at approximately $4,665,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laysha Ward sold 43,926 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $79.33, for a total transaction of $3,484,649.58. Following the completion of the transaction, the insider now owns 90,460 shares in the company, valued at $7,176,191.80. The disclosure for this sale can be found here. Insiders sold a total of 170,186 shares of company stock worth $12,287,710 over the last quarter. 0.19% of the stock is currently owned by company insiders.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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