DekaBank Deutsche Girozentrale Buys 663,782 Shares of Target Co. (NYSE:TGT)

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DekaBank Deutsche Girozentrale grew its stake in Target Co. (NYSE:TGT) by 310.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 877,818 shares of the retailer’s stock after purchasing an additional 663,782 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Target were worth $75,594,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new position in shares of Target during the second quarter valued at $31,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Target by 62.2% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Target during the first quarter valued at $31,000. Advisory Alpha LLC bought a new position in shares of Target during the first quarter valued at $30,000. Finally, C J Advisory Inc bought a new position in shares of Target during the first quarter valued at $33,000. 83.09% of the stock is currently owned by institutional investors and hedge funds.

TGT has been the subject of a number of research reports. Morgan Stanley upgraded Target from an “underweight” rating to an “equal weight” rating and set a $67.00 price objective for the company in a research report on Monday, May 20th. Credit Suisse Group set a $90.00 price objective on Target and gave the company a “buy” rating in a research report on Thursday, May 23rd. UBS Group upped their price objective on Target from $77.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, May 23rd. Telsey Advisory Group reiterated an “outperform” rating and set a $92.00 price objective (up previously from $88.00) on shares of Target in a research report on Thursday, April 18th. Finally, Bank of America set a $105.00 price objective on Target and gave the company a “buy” rating in a research report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $90.52.

Shares of TGT opened at $84.24 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88. Target Co. has a 52 week low of $60.15 and a 52 week high of $90.39. The stock has a 50-day moving average of $86.16. The stock has a market capitalization of $42.03 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.97 and a beta of 0.61.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.10. Target had a return on equity of 26.48% and a net margin of 3.96%. The company had revenue of $17.63 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same period in the prior year, the company earned $1.32 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Target Co. will post 5.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.66 per share. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio (DPR) is currently 47.50%.

In other news, insider Janna A. Potts sold 8,759 shares of Target stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total value of $691,961.00. Following the transaction, the insider now directly owns 27,720 shares in the company, valued at approximately $2,189,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie A. Lundquist sold 8,367 shares of Target stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $88.01, for a total value of $736,379.67. The disclosure for this sale can be found here. Insiders have sold a total of 33,180 shares of company stock valued at $2,854,650 over the last three months. 0.24% of the stock is owned by corporate insiders.

About Target

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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

Further Reading: How much can an individual set aside as a catch-up contribution?

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).

Institutional Ownership by Quarter for Target (NYSE:TGT)

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