Target Co. (NYSE:TGT) Shares Sold by Shelter Mutual Insurance Co
Shelter Mutual Insurance Co cut its position in Target Co. (NYSE:TGT) by 8.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,430 shares of the retailer’s stock after selling 5,520 shares during the period. Shelter Mutual Insurance Co’s holdings in Target were worth $4,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of TGT. Nordea Investment Management AB boosted its stake in shares of Target by 59.7% in the first quarter. Nordea Investment Management AB now owns 2,893,715 shares of the retailer’s stock worth $232,253,000 after acquiring an additional 1,081,856 shares during the last quarter. Argent Capital Management LLC boosted its stake in shares of Target by 162.2% in the first quarter. Argent Capital Management LLC now owns 1,163,242 shares of the retailer’s stock worth $93,362,000 after acquiring an additional 719,655 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Target by 310.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 877,818 shares of the retailer’s stock worth $75,594,000 after acquiring an additional 663,782 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Target by 18.8% in the first quarter. American Century Companies Inc. now owns 3,178,060 shares of the retailer’s stock worth $255,071,000 after acquiring an additional 502,098 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of Target by 59.9% in the first quarter. Miller Howard Investments Inc. NY now owns 1,196,107 shares of the retailer’s stock worth $96,000,000 after acquiring an additional 447,992 shares during the last quarter. 83.09% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on TGT. Citigroup lifted their price target on Target from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. Bank of America set a $105.00 price objective on Target and gave the company a “buy” rating in a research note on Thursday, May 23rd. Goldman Sachs Group initiated coverage on Target in a research note on Thursday, July 11th. They issued a “buy” rating and a $102.00 price objective for the company. Deutsche Bank raised Target from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $99.00 in a research note on Monday, August 5th. Finally, Sanford C. Bernstein reaffirmed a “mkt perform” rating on shares of Target in a research note on Friday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $90.06.
TGT traded up $0.92 on Thursday, hitting $82.81. 279,481 shares of the company were exchanged, compared to its average volume of 4,522,139. Target Co. has a twelve month low of $60.15 and a twelve month high of $90.39. The stock has a market capitalization of $42.03 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. The company has a current ratio of 0.88, a quick ratio of 0.19 and a debt-to-equity ratio of 1.21. The business has a 50-day moving average price of $86.08.
Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. Target had a return on equity of 26.48% and a net margin of 3.96%. The firm had revenue of $17.63 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the previous year, the firm posted $1.32 EPS. Target’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts forecast that Target Co. will post 5.92 earnings per share for the current fiscal year.
The business also recently announced 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 represents a $2.64 annualized dividend and a yield of 3.19%. This is a boost from Target’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Tuesday, August 20th. Target’s payout ratio is presently 47.50%.
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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