Pearl River Capital LLC increased its position in Target Co. (NYSE:TGT) by 88.7% during the second quarter, Holdings Channel reports. The fund owned 4,878 shares of the retailer’s stock after purchasing an additional 2,293 shares during the quarter. Pearl River Capital LLC’s holdings in Target were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. Prestige Wealth Management Group LLC grew its position in Target by 888.9% in the 1st quarter. Prestige Wealth Management Group LLC now owns 267 shares of the retailer’s stock worth $25,000 after purchasing an additional 240 shares during the last quarter. Capital Square LLC bought a new position in Target in the 1st quarter worth approximately $42,000. Stonebridge Financial Planning Group LLC increased its position in Target by 250.0% in the 2nd quarter. Stonebridge Financial Planning Group LLC now owns 350 shares of the retailer’s stock valued at $42,000 after acquiring an additional 250 shares during the period. Hudock Inc. raised its stake in Target by 208.7% during the 1st quarter. Hudock Inc. now owns 463 shares of the retailer’s stock valued at $43,000 after acquiring an additional 313 shares in the last quarter. Finally, Keebeck Wealth Management LLC bought a new stake in Target during the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 80.99% of the company’s stock.
In other news, insider Don H. Liu sold 8,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $130.00, for a total transaction of $1,040,000.00. Following the sale, the insider now owns 75,298 shares in the company, valued at $9,788,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roxanne S. Austin sold 7,415 shares of Target stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $120.01, for a total value of $889,874.15. Following the completion of the transaction, the director now directly owns 52,253 shares of the company’s stock, valued at $6,270,882.53. The disclosure for this sale can be found here. Insiders have sold 37,524 shares of company stock valued at $4,623,219 in the last ninety days. 0.52% of the stock is owned by company insiders.
Target stock traded down $2.06 during trading hours on Thursday, hitting $152.16. The company had a trading volume of 606,306 shares, compared to its average volume of 3,380,057. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.01 and a quick ratio of 0.42. Target Co. has a fifty-two week low of $85.53 and a fifty-two week high of $154.69. The firm’s fifty day moving average is $124.67 and its 200-day moving average is $114.63. The firm has a market capitalization of $68.45 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 4.40 and a beta of 0.79.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 19th. The retailer reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $1.74. The business had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $20.11 billion. Target had a net margin of 3.46% and a return on equity of 24.17%. Target’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 EPS. Analysts anticipate that Target Co. will post 5.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $0.68 per share. This is a boost from Target’s previous quarterly dividend of $0.66. This represents a $2.72 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, August 18th. Target’s dividend payout ratio is presently 42.57%.
A number of brokerages recently weighed in on TGT. Nomura Instinet lifted their price objective on shares of Target from $121.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Credit Suisse Group restated a “buy” rating and set a $132.00 price target on shares of Target in a research report on Thursday, June 18th. Cleveland Research upgraded shares of Target from a “neutral” rating to a “buy” rating in a report on Friday, June 19th. Deutsche Bank boosted their target price on Target from $121.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Cfra increased their price target on Target from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $137.27.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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