Royal Fund Management LLC bought a new position in Target Co. (NYSE:TGT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 543 shares of the retailer’s stock, valued at approximately $50,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Adell Harriman & Carpenter Inc. boosted its position in shares of Target by 38.0% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 33,765 shares of the retailer’s stock worth $4,329,000 after acquiring an additional 9,290 shares during the last quarter. B. Riley Wealth Management Inc. boosted its position in shares of Target by 8.1% in the fourth quarter. B. Riley Wealth Management Inc. now owns 3,046 shares of the retailer’s stock worth $390,000 after acquiring an additional 229 shares during the last quarter. IBM Retirement Fund boosted its position in shares of Target by 47.3% in the first quarter. IBM Retirement Fund now owns 13,564 shares of the retailer’s stock worth $1,261,000 after acquiring an additional 4,357 shares during the last quarter. HighMark Wealth Management LLC acquired a new stake in shares of Target in the fourth quarter worth approximately $41,000. Finally, Corient Capital Partners LLC boosted its position in shares of Target by 1.2% in the fourth quarter. Corient Capital Partners LLC now owns 7,889 shares of the retailer’s stock worth $1,012,000 after acquiring an additional 95 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:TGT opened at $117.49 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.27 and a debt-to-equity ratio of 1.46. The company has a fifty day simple moving average of $109.72 and a 200 day simple moving average of $114.20. The firm has a market cap of $59.32 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 4.03 and a beta of 0.75. Target Co. has a 12-month low of $76.86 and a 12-month high of $130.24.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.25%. Target’s dividend payout ratio (DPR) is presently 41.31%.
In other Target news, CAO Robert M. Harrison sold 631 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $102.00, for a total transaction of $64,362.00. Following the completion of the sale, the chief accounting officer now owns 9,634 shares in the company, valued at $982,668. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 110,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the sale, the insider now owns 208,502 shares of the company’s stock, valued at approximately $25,020,240. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,095 shares of company stock valued at $13,314,321. 0.24% of the stock is owned by insiders.
A number of research analysts have weighed in on the stock. ValuEngine raised shares of Target from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Cowen reaffirmed a “buy” rating and set a $150.00 price target on shares of Target in a research report on Wednesday, April 8th. Cfra lifted their price target on shares of Target from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday. Nomura reduced their price target on shares of Target from $131.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $125.00 price target on shares of Target in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Target presently has a consensus rating of “Buy” and a consensus target price of $128.21.
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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