IFM Investors Pty Ltd Grows Position in Target Co. (NYSE:TGT)

IFM Investors Pty Ltd lifted its stake in Target Co. (NYSE:TGTGet Rating) by 17.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,626 shares of the retailer’s stock after buying an additional 11,368 shares during the quarter. IFM Investors Pty Ltd’s holdings in Target were worth $16,262,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Tortoise Investment Management LLC lifted its holdings in shares of Target by 18.5% in the fourth quarter. Tortoise Investment Management LLC now owns 301 shares of the retailer’s stock worth $70,000 after buying an additional 47 shares in the last quarter. Cypress Capital LLC raised its stake in Target by 0.8% during the fourth quarter. Cypress Capital LLC now owns 5,807 shares of the retailer’s stock valued at $1,344,000 after purchasing an additional 47 shares in the last quarter. Carolinas Wealth Consulting LLC raised its stake in Target by 5.4% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 944 shares of the retailer’s stock valued at $218,000 after purchasing an additional 48 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in Target by 0.4% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,217 shares of the retailer’s stock valued at $2,860,000 after purchasing an additional 49 shares in the last quarter. Finally, Cypress Capital Management LLC raised its stake in Target by 4.5% during the fourth quarter. Cypress Capital Management LLC now owns 1,144 shares of the retailer’s stock valued at $265,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TGT shares. The Goldman Sachs Group decreased their price target on shares of Target from $191.00 to $171.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. Credit Suisse Group decreased their price target on shares of Target from $286.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, May 23rd. Bank of America cut shares of Target from a “buy” rating to a “neutral” rating and cut their price objective for the company from $235.00 to $165.00 in a research report on Wednesday, June 8th. Jefferies Financial Group cut their price objective on shares of Target from $252.00 to $168.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. Finally, StockNews.com cut shares of Target from a “buy” rating to a “hold” rating in a research report on Saturday, May 28th. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.42.

Insider Buying and Selling at Target

In other Target news, insider John J. Mulligan sold 45,490 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $139.98, for a total transaction of $6,367,690.20. Following the completion of the sale, the insider now directly owns 157,333 shares of the company’s stock, valued at $22,023,473.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Target Stock Up 2.5 %

Shares of Target stock opened at $163.38 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. Target Co. has a 1 year low of $137.16 and a 1 year high of $268.98. The firm’s 50-day moving average is $151.12 and its two-hundred day moving average is $194.58. The stock has a market cap of $75.76 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.76 and a beta of 1.00.

Target (NYSE:TGTGet Rating) last issued its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.81). Target had a return on equity of 44.75% and a net margin of 5.48%. The business had revenue of $24.83 billion for the quarter, compared to the consensus estimate of $24.48 billion. During the same quarter in the previous year, the company earned $3.69 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts expect that Target Co. will post 8.7 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.64%. This is a positive change from Target’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, August 16th. Target’s dividend payout ratio is presently 29.85%.

Target Profile

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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