Target Co. (TGT) Stake Increased by Cascade Investment Advisors Inc.
Cascade Investment Advisors Inc. boosted its stake in Target Co. (NYSE:TGT) by 23.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 24,445 shares of the retailer’s stock after buying an additional 4,685 shares during the period. Cascade Investment Advisors Inc.’s holdings in Target were worth $1,349,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Target by 0.3% in the fourth quarter. State Street Corp now owns 51,198,488 shares of the retailer’s stock valued at $3,698,062,000 after buying an additional 145,625 shares during the last quarter. Dodge & Cox purchased a new position in shares of Target during the fourth quarter valued at approximately $788,237,000. Norges Bank purchased a new position in shares of Target during the fourth quarter valued at approximately $460,220,000. LSV Asset Management boosted its position in shares of Target by 6.4% in the third quarter. LSV Asset Management now owns 4,849,168 shares of the retailer’s stock valued at $333,040,000 after buying an additional 292,180 shares during the last quarter. Finally, Mairs & Power INC boosted its position in shares of Target by 0.5% in the third quarter. Mairs & Power INC now owns 2,533,061 shares of the retailer’s stock valued at $173,971,000 after buying an additional 12,970 shares during the last quarter. Institutional investors own 88.53% of the company’s stock.
Target Co. (NYSE:TGT) opened at 54.40 on Friday. The stock has a 50 day moving average of $55.24 and a 200-day moving average of $63.79. The company has a market cap of $30.01 billion, a price-to-earnings ratio of 11.15 and a beta of 0.63. Target Co. has a 52-week low of $52.72 and a 52-week high of $79.33.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the consensus estimate of $0.91 by $0.30. The company had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. Target had a return on equity of 25.18% and a net margin of 4.75%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. On average, analysts forecast that Target Co. will post $4.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Monday, May 15th. Target’s payout ratio is presently 42.93%.
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Several analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Target in a report on Monday, February 6th. They set an “outperform” rating and a $77.00 price target for the company. Buckingham Research restated a “buy” rating and set a $71.00 price target on shares of Target in a report on Wednesday, April 19th. Barclays PLC decreased their price target on shares of Target from $60.00 to $50.00 and set an “underweight” rating for the company in a report on Wednesday, March 1st. Zacks Investment Research upgraded shares of Target from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, Gordon Haskett assumed coverage on shares of Target in a report on Tuesday, May 9th. They set a “sell” rating and a $47.00 price target for the company. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $65.49.
In related news, insider Don H. Liu acquired 2,000 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was bought at an average price of $58.20 per share, with a total value of $116,400.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Donald R. Knauss acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was bought at an average cost of $54.86 per share, with a total value of $548,600.00. Following the acquisition, the director now owns 16,431 shares in the company, valued at approximately $901,404.66. The disclosure for this purchase can be found here. In the last three months, insiders bought 19,000 shares of company stock valued at $1,073,750. 0.25% of the stock is currently owned by insiders.
Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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