Nomura Asset Management Co. Ltd. Invests $5.13 Million in Target Co. (TGT)

Nomura Asset Management Co. Ltd. bought a new position in shares of Target Co. (NYSE:TGT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 86,909 shares of the retailer’s stock, valued at approximately $5,129,000.

Other hedge funds also recently added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Target by 34.8% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 15,500 shares of the retailer’s stock worth $855,000 after acquiring an additional 4,000 shares during the last quarter. Private Advisory Group LLC boosted its position in Target by 27.2% during the first quarter. Private Advisory Group LLC now owns 13,566 shares of the retailer’s stock worth $749,000 after acquiring an additional 2,897 shares during the last quarter. Archford Capital Strategies LLC boosted its position in Target by 14.2% during the first quarter. Archford Capital Strategies LLC now owns 27,095 shares of the retailer’s stock worth $1,463,000 after acquiring an additional 3,375 shares during the last quarter. First Financial Equity Corporation acquired a new position in Target during the first quarter worth about $910,000. Finally, Bragg Financial Advisors Inc boosted its position in Target by 14.9% during the first quarter. Bragg Financial Advisors Inc now owns 29,162 shares of the retailer’s stock worth $1,068,000 after acquiring an additional 3,785 shares during the last quarter. 87.41% of the stock is owned by institutional investors and hedge funds.

In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

A number of equities analysts recently weighed in on TGT shares. TheStreet upgraded shares of Target from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, October 10th. MKM Partners boosted their target price on shares of Target from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Vetr upgraded shares of Target from a “hold” rating to a “buy” rating and set a $59.67 target price on the stock in a report on Monday, August 14th. Finally, BMO Capital Markets reiterated a “market weight” rating on shares of Target in a report on Thursday, September 14th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.25.

Shares of Target Co. (NYSE TGT) traded up $0.28 during mid-day trading on Friday, hitting $61.37. 3,564,497 shares of the stock traded hands, compared to its average volume of 9,731,758. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. Target Co. has a 52-week low of $48.56 and a 52-week high of $78.37. The firm has a market cap of $33,206.86, a price-to-earnings ratio of 12.73, a P/E/G ratio of 7.55 and a beta of 0.64.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. During the same period in the prior year, the business posted $1.04 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. analysts forecast that Target Co. will post 4.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.04%. Target’s dividend payout ratio is currently 51.88%.

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About Target

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.

Institutional Ownership by Quarter for Target (NYSE:TGT)

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