Commonwealth Equity Services LLC Boosts Stock Position in Target Co. (NYSE:TGT)

Commonwealth Equity Services LLC raised its stake in shares of Target Co. (NYSE:TGT) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 198,458 shares of the retailer’s stock after buying an additional 20,427 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Target were worth $15,928,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Phocas Financial Corp. acquired a new position in Target in the fourth quarter worth about $25,000. CI Investments Inc. acquired a new position in Target in the fourth quarter valued at approximately $27,000. Loeb Partners Corp acquired a new position in Target in the fourth quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in Target by 62.2% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Finally, Icon Wealth Partners LLC acquired a new position in Target in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

A number of equities analysts have commented on TGT shares. Telsey Advisory Group restated an “outperform” rating and issued a $92.00 target price (up from $88.00) on shares of Target in a research note on Thursday, April 18th. Sanford C. Bernstein reaffirmed a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. BMO Capital Markets upped their price target on Target from $70.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Friday, March 8th. Finally, Evercore ISI started coverage on Target in a report on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.25.

Shares of NYSE:TGT traded up $0.33 during midday trading on Monday, hitting $86.94. The stock had a trading volume of 4,780,600 shares, compared to its average volume of 5,167,261. The stock has a 50-day moving average price of $82.50. The company has a market capitalization of $44.37 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.07 and a beta of 0.60. The company has a quick ratio of 0.19, a current ratio of 0.88 and a debt-to-equity ratio of 1.21. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $90.39.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.10. Target had a net margin of 3.96% and a return on equity of 26.48%. The company had revenue of $17.63 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same period in the previous year, the firm posted $1.32 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that Target Co. will post 5.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This is an increase from Target’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.64 annualized dividend and a yield of 3.04%. Target’s dividend payout ratio is presently 47.50%.

In other news, insider Janna A. Potts sold 8,759 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $79.00, for a total value of $691,961.00. Following the completion of the sale, the insider now owns 27,720 shares in the company, valued at approximately $2,189,880. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roxanne S. Austin sold 4,163 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $89.00, for a total transaction of $370,507.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,080 shares of company stock worth $1,942,629. Corporate insiders own 0.19% of the company’s stock.

Target Company Profile

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

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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