Galibier Capital Management Ltd. Buys New Position in Target Co. (NYSE:TGT)

Galibier Capital Management Ltd. bought a new position in shares of Target Co. (NYSE:TGTGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,500 shares of the retailer’s stock, valued at approximately $1,059,000. Target comprises about 0.2% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 23rd largest holding.

A number of other hedge funds have also recently modified their holdings of TGT. Norges Bank acquired a new position in Target in the fourth quarter valued at approximately $1,094,330,000. Capital World Investors lifted its holdings in Target by 22.9% during the 4th quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after buying an additional 1,666,948 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Target by 73.9% in the first quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock worth $414,599,000 after acquiring an additional 808,485 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Target by 1,140.3% in the first quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock worth $148,934,000 after acquiring an additional 645,209 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Target by 40.3% during the fourth quarter. Alliancebernstein L.P. now owns 2,148,499 shares of the retailer’s stock worth $497,249,000 after acquiring an additional 617,060 shares during the period. Hedge funds and other institutional investors own 77.42% of the company’s stock.

Insiders Place Their Bets

In other news, insider John J. Mulligan sold 39,101 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the sale, the insider now directly owns 118,425 shares in the company, valued at $19,660,918.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at $488,725.60. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TGT. Jefferies Financial Group boosted their target price on Target from $161.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 18th. MKM Partners decreased their price target on Target from $163.00 to $161.00 and set a “neutral” rating on the stock in a research note on Thursday, August 18th. Royal Bank of Canada dropped their price objective on Target from $231.00 to $223.00 and set an “outperform” rating for the company in a research note on Thursday, August 18th. UBS Group decreased their target price on Target from $225.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, June 8th. Finally, Raymond James raised their price target on Target from $190.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 18th. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.67.

Target Stock Performance

NYSE TGT traded down $0.37 on Friday, reaching $152.59. The stock had a trading volume of 341,036 shares, compared to its average volume of 3,364,889. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14. The company has a market cap of $70.23 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The firm has a fifty day moving average of $163.84 and a two-hundred day moving average of $182.03. Target Co. has a 1-year low of $137.16 and a 1-year high of $268.98.

Target (NYSE:TGTGet Rating) last issued its earnings results on Wednesday, August 17th. The retailer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.32). Target had a return on equity of 35.15% and a net margin of 3.92%. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $26.07 billion. During the same period in the previous year, the firm posted $3.64 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Target Co. will post 8.11 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.83%. Target’s dividend payout ratio is presently 49.09%.

Target Company Profile

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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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