Boston Partners Purchases New Position in Target Co. (TGT)
Boston Partners purchased a new position in Target Co. (NYSE:TGT) during the first quarter, Holdings Channel reports. The firm purchased 7,100 shares of the retailer’s stock, valued at approximately $392,000.
A number of other large investors have also modified their holdings of the company. Carret Asset Management LLC increased its position in Target by 1.0% in the third quarter. Carret Asset Management LLC now owns 77,272 shares of the retailer’s stock valued at $5,307,000 after buying an additional 762 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in Target by 1.7% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 112,116 shares of the retailer’s stock valued at $7,700,000 after buying an additional 1,925 shares during the period. Hartford Investment Management Co. increased its position in Target by 3.4% in the third quarter. Hartford Investment Management Co. now owns 183,185 shares of the retailer’s stock valued at $12,581,000 after buying an additional 6,033 shares during the period. Weiss Asset Management LP bought a new position in Target during the third quarter valued at approximately $237,000. Finally, Mairs & Power INC increased its position in Target by 0.5% in the third quarter. Mairs & Power INC now owns 2,533,061 shares of the retailer’s stock valued at $173,971,000 after buying an additional 12,970 shares during the period. Institutional investors and hedge funds own 88.53% of the company’s stock.
Shares of Target Co. (TGT) traded down 0.20% during trading on Wednesday, reaching $54.47. 5,727,816 shares of the company traded hands. The firm’s 50 day moving average price is $55.58 and its 200-day moving average price is $62.82. The company has a market capitalization of $30.05 billion, a price-to-earnings ratio of 11.16 and a beta of 0.63. Target Co. has a 52 week low of $52.72 and a 52 week high of $79.33.
Target (NYSE:TGT) last posted its earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.30. The firm had revenue of $16.02 billion for the quarter, compared to the consensus estimate of $15.63 billion. Target had a net margin of 4.75% and a return on equity of 25.18%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. Equities analysts anticipate that Target Co. will post $4.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, May 15th. Target’s dividend payout ratio is currently 42.93%.
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Several research analysts have commented on the stock. Zacks Investment Research raised shares of Target from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday. ValuEngine downgraded shares of Target from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and set a $59.00 price objective (up previously from $56.00) on shares of Target in a report on Friday, May 19th. Deutsche Bank AG reissued a “hold” rating and set a $59.00 price objective (up previously from $55.00) on shares of Target in a report on Friday, May 19th. Finally, Telsey Advisory Group increased their price objective on shares of Target from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Thursday, May 18th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. Target has an average rating of “Hold” and a consensus price target of $64.76.
In other news, Director Donald R. Knauss bought 10,000 shares of Target stock in a transaction dated Thursday, March 9th. The stock was bought at an average price of $54.86 per share, for a total transaction of $548,600.00. Following the purchase, the director now owns 16,431 shares of the company’s stock, valued at $901,404.66. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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