Louisiana State Employees Retirement System lessened its stake in Target Co. (NYSE:TGT) by 0.3% in the 1st quarter, Holdings Channel reports. The firm owned 31,000 shares of the retailer’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Target were worth $6,140,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Pflug Koory LLC raised its stake in Target by 0.5% in the fourth quarter. Pflug Koory LLC now owns 11,630 shares of the retailer’s stock valued at $2,053,000 after buying an additional 54 shares in the last quarter. Profit Investment Management LLC lifted its stake in Target by 2.0% during the fourth quarter. Profit Investment Management LLC now owns 2,752 shares of the retailer’s stock worth $486,000 after purchasing an additional 55 shares during the last quarter. AMI Asset Management Corp lifted its stake in Target by 1.6% in the fourth quarter. AMI Asset Management Corp now owns 3,438 shares of the retailer’s stock valued at $607,000 after buying an additional 55 shares during the last quarter. Ballast Inc. lifted its stake in Target by 1.2% in the fourth quarter. Ballast Inc. now owns 4,670 shares of the retailer’s stock valued at $824,000 after buying an additional 57 shares during the last quarter. Finally, Stonebridge Financial Planning Group LLC increased its holdings in shares of Target by 17.1% in the fourth quarter. Stonebridge Financial Planning Group LLC now owns 410 shares of the retailer’s stock valued at $72,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 79.17% of the company’s stock.
In other Target news, CAO Robert M. Harrison sold 2,282 shares of Target stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $192.45, for a total value of $439,170.90. Following the completion of the sale, the chief accounting officer now owns 6,265 shares of the company’s stock, valued at approximately $1,205,699.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Edward Mcnamara sold 31,423 shares of Target stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $204.32, for a total value of $6,420,347.36. Following the completion of the sale, the insider now directly owns 139,768 shares of the company’s stock, valued at approximately $28,557,397.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,510 shares of company stock valued at $8,002,521. Company insiders own 0.52% of the company’s stock.
Target (NYSE:TGT) last announced its quarterly earnings data on Monday, March 1st. The retailer reported $2.67 EPS for the quarter, beating the consensus estimate of $2.54 by $0.13. Target had a return on equity of 34.94% and a net margin of 4.31%. The firm had revenue of $28 billion for the quarter, compared to analyst estimates of $27.42 billion. During the same period in the prior year, the company earned $1.69 EPS. The company’s revenue was up 21.0% on a year-over-year basis. Sell-side analysts anticipate that Target Co. will post 9.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, May 18th. Target’s dividend payout ratio (DPR) is currently 42.57%.
Several research firms have weighed in on TGT. Jefferies Financial Group lowered their target price on Target from $205.00 to $188.00 and set a “hold” rating on the stock in a report on Tuesday, March 9th. Robert W. Baird cut their target price on Target from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 9th. Zacks Investment Research lowered Target from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research report on Friday, March 5th. DA Davidson cut their price objective on Target from $229.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, March 9th. Finally, Morgan Stanley raised their target price on Target from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 20th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $180.90.
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home dÃ©cor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target CafÃ©, Target Optical, Starbucks, and other food service offerings.
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