Target Co. (NYSE:TGT) Shares Bought by Huntington National Bank

Huntington National Bank lifted its position in shares of Target Co. (NYSE:TGT) by 11.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,758 shares of the retailer’s stock after buying an additional 13,342 shares during the period. Huntington National Bank’s holdings in Target were worth $15,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ballast Advisors LLC increased its holdings in shares of Target by 5.0% during the 2nd quarter. Ballast Advisors LLC now owns 2,686 shares of the retailer’s stock worth $322,000 after buying an additional 129 shares during the last quarter. Mitchell Capital Management Co. increased its holdings in shares of Target by 1.6% during the 2nd quarter. Mitchell Capital Management Co. now owns 22,032 shares of the retailer’s stock worth $2,642,000 after buying an additional 347 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Target by 0.3% during the 2nd quarter. Chartwell Investment Partners LLC now owns 30,404 shares of the retailer’s stock worth $3,646,000 after buying an additional 86 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Target by 10.0% during the 2nd quarter. State of Michigan Retirement System now owns 127,743 shares of the retailer’s stock worth $15,320,000 after buying an additional 11,633 shares during the last quarter. Finally, Duality Advisers LP acquired a new stake in shares of Target during the 2nd quarter worth approximately $640,000. Institutional investors and hedge funds own 80.99% of the company’s stock.

In related news, insider Brian C. Cornell sold 110,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 208,502 shares of the company’s stock, valued at $25,020,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Don H. Liu sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $125.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 68,330 shares in the company, valued at approximately $8,541,250. The disclosure for this sale can be found here. Insiders sold 139,524 shares of company stock worth $16,783,219 in the last ninety days. Insiders own 0.52% of the company’s stock.

Shares of Target stock traded up $1.30 on Friday, reaching $125.88. 3,268,057 shares of the stock were exchanged, compared to its average volume of 2,964,232. The firm has a market capitalization of $62.29 billion, a PE ratio of 23.31, a PEG ratio of 4.16 and a beta of 0.79. Target Co. has a 1-year low of $80.03 and a 1-year high of $130.24. The business has a fifty day moving average price of $119.96 and a two-hundred day moving average price of $113.35. The company has a current ratio of 1.01, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.19. The firm had revenue of $19.37 billion for the quarter, compared to the consensus estimate of $19.04 billion. Target had a net margin of 3.46% and a return on equity of 24.17%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Research analysts expect that Target Co. will post 4.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, August 18th. This is an increase from Target’s previous quarterly dividend of $0.66. Target’s dividend payout ratio is 41.31%.

Several research firms recently weighed in on TGT. Deutsche Bank lifted their target price on shares of Target from $121.00 to $131.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Cowen reiterated a “buy” rating and issued a $150.00 target price on shares of Target in a report on Wednesday, April 8th. Cleveland Research upgraded shares of Target from a “neutral” rating to a “buy” rating in a report on Friday, June 19th. Stifel Nicolaus lifted their target price on shares of Target from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 21st. Finally, MKM Partners began coverage on shares of Target in a report on Wednesday. They issued a “sell” rating and a $105.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $128.08.

Target 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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

See Also: Net Income

Institutional Ownership by Quarter for Target (NYSE:TGT)

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