Target Co. (TGT) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC increased its holdings in Target Co. (NYSE:TGT) by 35.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,033,709 shares of the retailer’s stock after purchasing an additional 532,207 shares during the period. Parametric Portfolio Associates LLC owned 0.37% of Target worth $120,009,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Robinson Value Management Ltd. raised its holdings in shares of Target by 8.3% during the 2nd quarter. Robinson Value Management Ltd. now owns 34,162 shares of the retailer’s stock worth $1,786,000 after acquiring an additional 2,621 shares in the last quarter. Curbstone Financial Management Corp raised its holdings in shares of Target by 4.3% during the 2nd quarter. Curbstone Financial Management Corp now owns 7,288 shares of the retailer’s stock worth $381,000 after acquiring an additional 300 shares in the last quarter. Trust Co raised its holdings in shares of Target by 3.7% during the 1st quarter. Trust Co now owns 28,603 shares of the retailer’s stock worth $1,579,000 after acquiring an additional 1,012 shares in the last quarter. Beacon Financial Group raised its holdings in shares of Target by 1.9% during the 2nd quarter. Beacon Financial Group now owns 9,519 shares of the retailer’s stock worth $496,000 after acquiring an additional 178 shares in the last quarter. Finally, Hexavest Inc. purchased a new stake in shares of Target during the 2nd quarter worth approximately $41,629,000. 87.75% of the stock is currently owned by institutional investors.
TGT has been the topic of several recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $67.00 price objective (up from $62.00) on shares of Target in a report on Friday, August 18th. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 price objective (up from $58.00) on shares of Target in a report on Friday, August 18th. Zacks Investment Research cut Target from a “buy” rating to a “hold” rating in a report on Monday, August 21st. Jefferies Group reaffirmed a “hold” rating on shares of Target in a report on Friday, August 25th. Finally, TheStreet raised Target from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.42.
Target (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. research analysts expect that Target Co. will post 4.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.96%. The ex-dividend date was Tuesday, November 14th. Target’s dividend payout ratio (DPR) is presently 51.88%.
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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