M&G Investment Management Ltd. Reduces Stock Holdings in Target Co. (NYSE:TGT)

M&G Investment Management Ltd. trimmed its holdings in shares of Target Co. (NYSE:TGT) by 7.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 16,141 shares of the retailer’s stock after selling 1,213 shares during the period. M&G Investment Management Ltd.’s holdings in Target were worth $3,196,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its stake in Target by 4.4% during the 1st quarter. BlackRock Inc. now owns 38,768,116 shares of the retailer’s stock worth $7,678,800,000 after buying an additional 1,633,495 shares during the last quarter. Norges Bank acquired a new stake in Target during the 4th quarter worth about $1,007,373,000. FMR LLC lifted its position in Target by 23.6% during the 4th quarter. FMR LLC now owns 5,493,847 shares of the retailer’s stock worth $969,830,000 after acquiring an additional 1,049,440 shares during the period. Jennison Associates LLC lifted its position in Target by 1,562.3% during the 1st quarter. Jennison Associates LLC now owns 4,514,325 shares of the retailer’s stock worth $894,152,000 after acquiring an additional 4,242,754 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in Target by 31.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 3,936,652 shares of the retailer’s stock worth $694,937,000 after acquiring an additional 950,131 shares during the period. Hedge funds and other institutional investors own 78.24% of the company’s stock.

In related news, insider Christina Hennington sold 1,852 shares of the company’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $183.00, for a total value of $338,916.00. Following the transaction, the insider now directly owns 25,249 shares in the company, valued at $4,620,567. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Edward Mcnamara sold 31,423 shares of the company’s stock in a transaction that occurred on Tuesday, April 13th. The shares were sold at an average price of $204.32, for a total value of $6,420,347.36. Following the completion of the transaction, the insider now owns 139,768 shares in the company, valued at $28,557,397.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,218 shares of company stock valued at $9,483,744. 0.52% of the stock is owned by company insiders.

TGT has been the subject of a number of research reports. Robert W. Baird lowered their price target on Target from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Target from $225.00 to $258.00 and gave the stock a “buy” rating in a research report on Thursday, May 20th. DA Davidson decreased their price objective on Target from $229.00 to $210.00 and set a “buy” rating for the company in a report on Wednesday, March 3rd. Morgan Stanley boosted their price objective on Target from $205.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, May 24th. Finally, MKM Partners boosted their price objective on Target from $170.00 to $216.00 and gave the company a “neutral” rating in a report on Tuesday, May 25th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $231.06.

Shares of Target stock opened at $231.66 on Friday. Target Co. has a twelve month low of $114.81 and a twelve month high of $236.80. The company has a 50-day simple moving average of $214.25. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 0.77. The stock has a market cap of $114.61 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.50 and a beta of 1.01.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, May 18th. The retailer reported $3.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.25 by $1.44. Target had a return on equity of 45.70% and a net margin of 6.30%. The company had revenue of $23.88 billion during the quarter, compared to analyst estimates of $21.13 billion. During the same period in the previous year, the business earned $0.59 EPS. Target’s quarterly revenue was up 23.3% on a year-over-year basis. Sell-side analysts anticipate that Target Co. will post 11.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Wednesday, August 18th will be paid a dividend of $0.90 per share. This is a positive change from Target’s previous quarterly dividend of $0.68. This represents a $3.60 annualized dividend and a yield of 1.55%. The ex-dividend date is Tuesday, August 17th. Target’s payout ratio is 28.87%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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