Palladium Partners LLC purchased a new stake in shares of Target Co. (NYSE:TGT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,918 shares of the retailer’s stock, valued at approximately $203,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Investment Advisory Services LLC grew its position in Target by 9.9% in the 4th quarter. Capital Investment Advisory Services LLC now owns 7,675 shares of the retailer’s stock worth $501,000 after purchasing an additional 693 shares during the period. Corient Capital Partners LLC grew its position in Target by 11.1% in the 4th quarter. Corient Capital Partners LLC now owns 6,994 shares of the retailer’s stock worth $456,000 after purchasing an additional 699 shares during the period. Advisor Partners LLC grew its position in Target by 7.5% in the 1st quarter. Advisor Partners LLC now owns 10,227 shares of the retailer’s stock worth $710,000 after purchasing an additional 712 shares during the period. Wetherby Asset Management Inc. grew its position in Target by 4.6% in the 1st quarter. Wetherby Asset Management Inc. now owns 16,312 shares of the retailer’s stock worth $1,133,000 after purchasing an additional 713 shares during the period. Finally, White Pine Capital LLC grew its position in Target by 2.7% in the 4th quarter. White Pine Capital LLC now owns 27,908 shares of the retailer’s stock worth $1,821,000 after purchasing an additional 725 shares during the period. 86.84% of the stock is owned by institutional investors.
Shares of Target stock opened at $70.25 on Friday. The firm has a market cap of $37.48 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71. Target Co. has a 1-year low of $69.41 and a 1-year high of $70.33. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95.
Target (NYSE:TGT) last released its earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Target had a net margin of 4.08% and a return on equity of 23.04%. The firm had revenue of $22.77 billion for the quarter, compared to analysts’ expectations of $22.56 billion. During the same quarter last year, the firm posted $1.45 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. equities analysts expect that Target Co. will post 5.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Wednesday, May 16th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, May 15th. Target’s dividend payout ratio (DPR) is 52.65%.
In related news, insider John J. Mulligan sold 118,373 shares of Target stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the transaction, the insider now owns 195,906 shares in the company, valued at approximately $13,589,999.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.
TGT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Target from a “hold” rating to a “strong-buy” rating and set a $88.00 target price for the company in a research report on Saturday, January 20th. Wolfe Research raised shares of Target from an “underperform” rating to a “market perform” rating in a research report on Monday, April 16th. Robert W. Baird raised shares of Target from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $75.00 to $85.00 in a research report on Wednesday, February 14th. Cowen set a $80.00 target price on shares of Target and gave the stock a “hold” rating in a research report on Thursday, February 8th. Finally, Vetr downgraded shares of Target from a “hold” rating to a “sell” rating and set a $73.66 target price for the company. in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.37.
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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