Millennium Management LLC Raises Stake in Target Co. (TGT)

Millennium Management LLC increased its position in Target Co. (NYSE:TGT) by 31.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,464 shares of the retailer’s stock after buying an additional 82,045 shares during the period. Millennium Management LLC owned 0.07% of Target worth $22,501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Phocas Financial Corp. bought a new position in shares of Target during the 4th quarter worth approximately $25,000. Loeb Partners Corp bought a new position in shares of Target during the 4th quarter worth approximately $28,000. Lindbrook Capital LLC bought a new position in shares of Target during the 4th quarter worth approximately $32,000. Eukles Asset Management bought a new position in shares of Target during the 4th quarter worth approximately $33,000. Finally, We Are One Seven LLC bought a new position in shares of Target during the 4th quarter worth approximately $36,000. Institutional investors own 83.90% of the company’s stock.

A number of research firms recently commented on TGT. Evercore ISI began coverage on shares of Target in a report on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 price target on the stock. Citigroup lowered their price target on shares of Target from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, December 3rd. Gordon Haskett raised shares of Target from an “accumulate” rating to a “buy” rating in a report on Thursday, March 21st. BMO Capital Markets lifted their price target on shares of Target from $70.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Finally, Standpoint Research raised shares of Target from a “hold” rating to a “buy” rating and set a $62.30 price target on the stock in a report on Wednesday, December 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $87.25.

Target stock opened at $79.97 on Tuesday. Target Co. has a 1-year low of $60.15 and a 1-year high of $90.39. The company has a market capitalization of $41.44 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The company has a quick ratio of 0.20, a current ratio of 0.83 and a debt-to-equity ratio of 1.08.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. Target had a net margin of 3.90% and a return on equity of 25.74%. The business had revenue of $22.98 billion during the quarter, compared to analyst estimates of $23.05 billion. During the same period in the previous year, the business earned $1.37 EPS. Target’s revenue was up .0% compared to the same quarter last year. Sell-side analysts forecast that Target Co. will post 5.79 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a $0.64 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.20%. Target’s dividend payout ratio is 47.50%.

In related news, insider Cathy R. Smith sold 30,000 shares of Target stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Edward Mcnamara sold 5,186 shares of Target stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total transaction of $410,627.48. Following the completion of the transaction, the insider now owns 77,550 shares of the company’s stock, valued at $6,140,409. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

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Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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