TCW Group Inc. Makes New Investment in Target Co. (NYSE:TGT)

TCW Group Inc. acquired a new stake in Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,589 shares of the retailer’s stock, valued at approximately $1,794,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. United Services Automobile Association boosted its position in Target by 2.9% during the third quarter. United Services Automobile Association now owns 44,232 shares of the retailer’s stock worth $4,891,000 after purchasing an additional 1,239 shares during the period. RFG Advisory LLC bought a new stake in shares of Target during the 4th quarter worth about $605,000. Nordea Investment Management AB raised its holdings in Target by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock valued at $73,819,000 after acquiring an additional 24,066 shares during the period. Asio Capital LLC lifted its position in Target by 109.9% during the fourth quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock worth $3,883,000 after acquiring an additional 14,274 shares during the last quarter. Finally, Blue Chip Partners LLC lifted its position in Target by 5.1% during the fourth quarter. Blue Chip Partners LLC now owns 130,179 shares of the retailer’s stock worth $18,540,000 after acquiring an additional 6,348 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus increased their target price on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. BMO Capital Markets dropped their target price on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a report on Thursday. Bank of America upped their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. TheStreet upgraded shares of Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Finally, Royal Bank of Canada decreased their target price on shares of Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.41.

Target Price Performance

Shares of NYSE:TGT traded up $0.82 during trading on Friday, hitting $145.23. 3,550,295 shares of the company were exchanged, compared to its average volume of 4,405,073. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a market capitalization of $67.19 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.16. The company has a quick ratio of 0.29, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average is $164.92 and its 200-day moving average is $149.85.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same period in the previous year, the company earned $2.05 EPS. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts forecast that Target Co. will post 9.37 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 49.38%.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.