Summit Trail Advisors LLC lifted its position in shares of Target Co. (NYSE:TGT) by 6,897.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,001 shares of the retailer’s stock after acquiring an additional 162,643 shares during the quarter. Summit Trail Advisors LLC’s holdings in Target were worth $165,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd lifted its holdings in Target by 20.8% during the 1st quarter. WINTON GROUP Ltd now owns 7,435 shares of the retailer’s stock worth $516,000 after buying an additional 1,278 shares during the period. CIBC World Markets Inc. lifted its holdings in Target by 13,948.9% during the 1st quarter. CIBC World Markets Inc. now owns 811,322 shares of the retailer’s stock worth $56,330,000 after buying an additional 805,547 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in Target by 3.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 100,428 shares of the retailer’s stock worth $6,973,000 after buying an additional 3,673 shares during the period. Gables Capital Management Inc. acquired a new position in Target during the 1st quarter worth about $134,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in Target by 12.5% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 538,700 shares of the retailer’s stock worth $37,402,000 after buying an additional 59,700 shares during the period. 85.42% of the stock is currently owned by institutional investors.
Shares of Target opened at $76.87 on Thursday, Marketbeat reports. Target Co. has a one year low of $50.04 and a one year high of $79.59. The stock has a market capitalization of $40.97 billion, a P/E ratio of 16.32, a PEG ratio of 2.43 and a beta of 0.72. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.90 and a quick ratio of 0.18.
Target (NYSE:TGT) last issued its earnings results on Wednesday, May 23rd. The retailer reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). Target had a net margin of 4.09% and a return on equity of 23.34%. The firm had revenue of $16.78 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. analysts expect that Target Co. will post 5.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th will be issued a dividend of $0.64 per share. This is a positive change from Target’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, August 14th. Target’s payout ratio is currently 52.65%.
Several research analysts have commented on TGT shares. Credit Suisse Group started coverage on Target in a report on Monday, March 5th. They set a “buy” rating and a $86.00 target price on the stock. Susquehanna Bancshares set a $95.00 price objective on Target and gave the stock a “buy” rating in a research report on Monday, March 5th. Vetr raised Target from a “hold” rating to a “buy” rating and set a $75.42 price objective for the company in a research report on Tuesday, March 6th. Telsey Advisory Group lowered their price objective on Target from $83.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, March 7th. Finally, Morgan Stanley set a $64.00 price objective on Target and gave the stock a “sell” rating in a research report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $75.47.
In other Target news, insider Laysha Ward sold 43,926 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $79.33, for a total transaction of $3,484,649.58. Following the completion of the sale, the insider now directly owns 90,460 shares of the company’s stock, valued at approximately $7,176,191.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Don H. Liu sold 2,735 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $75.00, for a total value of $205,125.00. Following the sale, the insider now directly owns 62,210 shares of the company’s stock, valued at $4,665,750. The disclosure for this sale can be found here. Insiders have sold a total of 170,186 shares of company stock valued at $12,287,710 over the last three months. Corporate insiders own 0.19% of the company’s stock.
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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