Suntrust Banks Inc. Increases Position in Target Corporation (TGT)

Suntrust Banks Inc. raised its stake in Target Corporation (NYSE:TGT) by 3.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 91,806 shares of the retailer’s stock after buying an additional 2,949 shares during the period. Suntrust Banks Inc.’s holdings in Target Corporation were worth $5,066,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares during the last quarter. Point View Wealth Management Inc. boosted its stake in Target Corporation by 2.0% in the first quarter. Point View Wealth Management Inc. now owns 4,850 shares of the retailer’s stock worth $268,000 after buying an additional 96 shares during the last quarter. Elkfork Partners LLC raised its stake in shares of Target Corporation by 17.3% in the first quarter. Elkfork Partners LLC now owns 152,936 shares of the retailer’s stock worth $8,441,000 after buying an additional 22,540 shares during the period. Insight 2811 Inc. bought a new stake in shares of Target Corporation during the first quarter worth about $324,000. Finally, Henderson Group PLC raised its stake in shares of Target Corporation by 1.0% in the first quarter. Henderson Group PLC now owns 72,121 shares of the retailer’s stock worth $3,979,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 83.05% of the company’s stock.

Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

Shares of Target Corporation (TGT) opened at 52.61 on Friday. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The stock has a market cap of $29.03 billion, a price-to-earnings ratio of 10.78 and a beta of 0.58. The company has a 50-day moving average price of $55.81 and a 200-day moving average price of $61.88. Target Corporation also was the recipient of some unusual options trading on Friday. Investors purchased 4,936 call options on the stock. This represents an increase of approximately 262% compared to the typical daily volume of 1,363 call options.

Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Target Corporation’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts expect that Target Corporation will post $4.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 annualized dividend and a yield of 4.71%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is presently 48.98%.

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A number of research analysts recently weighed in on the stock. ValuEngine lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $59.00 target price (up from $56.00) on shares of Target Corporation in a report on Friday, May 19th. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective for the company in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Buckingham Research reaffirmed a “buy” rating and set a $71.00 price objective on shares of Target Corporation in a research note on Wednesday, April 19th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.68.

Target Corporation Company Profile

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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