Prime Capital Investment Advisors LLC lifted its holdings in Target Co. (NYSE:TGT) by 719.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,761 shares of the retailer’s stock after purchasing an additional 5,936 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Target were worth $543,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Target by 17.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock valued at $403,145,000 after acquiring an additional 671,121 shares in the last quarter. Martingale Asset Management L P lifted its stake in Target by 749.3% in the 3rd quarter. Martingale Asset Management L P now owns 75,603 shares of the retailer’s stock valued at $6,669,000 after acquiring an additional 66,701 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Target in the 3rd quarter valued at approximately $462,000. The Manufacturers Life Insurance Company lifted its stake in Target by 218.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 216,308 shares of the retailer’s stock valued at $19,080,000 after acquiring an additional 148,391 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Target by 84.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 18,594 shares of the retailer’s stock valued at $1,640,000 after acquiring an additional 8,516 shares in the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.
In related news, insider Michael Edward Mcnamara sold 5,186 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total value of $410,627.48. Following the sale, the insider now owns 77,550 shares in the company, valued at approximately $6,140,409. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.28, for a total value of $143,781.48. Following the completion of the sale, the insider now owns 12,836 shares in the company, valued at approximately $1,030,474.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,977 shares of company stock worth $2,774,409. 0.19% of the stock is owned by company insiders.
Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.53. Target had a return on equity of 25.74% and a net margin of 3.90%. The business had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $23.05 billion. During the same quarter in the prior year, the business earned $1.37 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts expect that Target Co. will post 5.79 earnings per share for the current fiscal year.
The firm also recently declared 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. This represents a $2.56 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 47.50%.
Several research firms have commented on TGT. Evercore ISI began coverage on Target in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 target price on the stock. Gordon Haskett upgraded Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. BMO Capital Markets upped their price objective on Target from $70.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. Deutsche Bank upped their price objective on Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $88.00 price objective (up previously from $86.00) on shares of Target in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $87.25.
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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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