Target Co. (NYSE:TGT) Holdings Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Target Co. (NYSE:TGT) by 0.2% during the fourth quarter, HoldingsChannel reports. The fund owned 51,163 shares of the retailer’s stock after purchasing an additional 80 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Target were worth $7,287,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Rakuten Securities Inc. bought a new stake in Target in the fourth quarter worth $29,000. Tower View Wealth Management LLC lifted its stake in shares of Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after buying an additional 106 shares during the period. First Capital Advisors Group LLC. acquired a new position in Target in the second quarter worth about $31,000. Penserra Capital Management LLC acquired a new position in Target in the fourth quarter worth about $35,000. Finally, Friedenthal Financial acquired a new position in Target in the fourth quarter worth about $45,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGT has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Target from $142.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Wells Fargo & Company raised their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Tigress Financial lifted their price target on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Roth Mkm raised their price objective on shares of Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.85.

Target Stock Up 1.0 %

Target stock opened at $168.30 on Monday. The firm has a market capitalization of $77.70 billion, a PE ratio of 18.85, a P/E/G ratio of 1.58 and a beta of 1.14. The company’s 50-day moving average is $163.68 and its 200-day moving average is $141.43. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. Target’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 EPS. Sell-side analysts anticipate that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 49.27%.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction dated 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 directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. Company insiders own 0.23% of the company’s stock.

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.