Strs Ohio Raises Holdings in Target Co. (TGT)
Strs Ohio grew its position in Target Co. (NYSE:TGT) by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 338,231 shares of the retailer’s stock after purchasing an additional 46,624 shares during the period. Strs Ohio’s holdings in Target were worth $27,146,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. First Command Bank increased its position in Target by 17.7% in the 1st quarter. First Command Bank now owns 904 shares of the retailer’s stock worth $73,000 after purchasing an additional 136 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Target by 62.2% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Investors Research Corp increased its holdings in shares of Target by 0.8% during the 4th quarter. Investors Research Corp now owns 17,742 shares of the retailer’s stock valued at $1,173,000 after acquiring an additional 142 shares during the last quarter. Savant Capital LLC increased its holdings in shares of Target by 4.0% during the 4th quarter. Savant Capital LLC now owns 4,078 shares of the retailer’s stock valued at $270,000 after acquiring an additional 155 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of Target by 6.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,667 shares of the retailer’s stock valued at $176,000 after acquiring an additional 166 shares during the last quarter. 83.89% of the stock is currently owned by institutional investors.
In related news, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the completion of the sale, the insider now owns 12,836 shares in the company, valued at approximately $1,030,474.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cathy R. Smith sold 30,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,977 shares of company stock valued at $2,774,409. 0.19% of the stock is owned by corporate insiders.
Shares of NYSE:TGT opened at $83.26 on Friday. Target Co. has a twelve month low of $60.15 and a twelve month high of $90.39. The company has a market cap of $42.99 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. The company has a quick ratio of 0.20, a current ratio of 0.83 and a debt-to-equity ratio of 1.08.
Target (NYSE:TGT) last announced its earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. Target had a return on equity of 25.74% and a net margin of 3.90%. The firm had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.05 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts forecast that Target Co. will post 5.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.56 annualized dividend and a yield of 3.07%. Target’s payout ratio is 47.50%.
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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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