1,019,376 Shares in Target Corporation $TGT Acquired by Equity Investment Corp

Equity Investment Corp bought a new position in Target Corporation (NYSE:TGT) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,019,376 shares of the retailer’s stock, valued at approximately $133,141,000. Target accounts for approximately 2.5% of Equity Investment Corp’s investment portfolio, making the stock its 16th biggest position.

Several other large investors have also recently bought and sold shares of TGT. WFA of San Diego LLC bought a new position in shares of Target in the second quarter worth $25,000. Jessup Wealth Management Inc purchased a new position in shares of Target during the fourth quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in shares of Target in the fourth quarter worth about $26,000. MidFirst Bank bought a new stake in Target during the 4th quarter valued at $31,000. Finally, Capital Advisors Ltd. LLC raised its position in Target by 245.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer’s stock valued at $33,000 after purchasing an additional 194 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TGT. Oppenheimer increased their target price on Target from $140.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Wolfe Research set a $169.00 price objective on shares of Target in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $140.00 price target on shares of Target in a research report on Friday. Bank of America reissued an “underperform” rating and set a $124.00 price target (up from $110.00) on shares of Target in a report on Wednesday, August 12th. Finally, Telsey Advisory Group upped their target price on shares of Target from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Target currently has an average rating of “Hold” and an average target price of $143.85.

Target Stock Up 1.1%

Shares of Target stock opened at $152.63 on Wednesday. The company has a market cap of $69.32 billion, a P/E ratio of 20.16, a PEG ratio of 2.51 and a beta of 0.96. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average price is $139.08 and its 200-day moving average price is $126.98. Target Corporation has a 52-week low of $83.44 and a 52-week high of $156.47.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The company had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that Target Corporation will post 8.43 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This is a boost from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, August 12th. Target’s dividend payout ratio (DPR) is currently 61.29%.

Key Stories Impacting Target

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.