Spectrum Financial Alliance Ltd LLC Has $4.99 Million Position in Target Co. (NYSE:TGT)

Spectrum Financial Alliance Ltd LLC increased its position in shares of Target Co. (NYSE:TGT) by 57.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,277 shares of the retailer’s stock after acquiring an additional 22,717 shares during the period. Target comprises 3.4% of Spectrum Financial Alliance Ltd LLC’s holdings, making the stock its 11th largest holding. Spectrum Financial Alliance Ltd LLC’s holdings in Target were worth $4,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Target in the 4th quarter valued at approximately $358,987,000. Boston Partners bought a new position in Target in the 4th quarter valued at approximately $310,033,000. Nordea Investment Management AB raised its stake in shares of Target by 2,417.6% during the fourth quarter. Nordea Investment Management AB now owns 1,811,859 shares of the retailer’s stock valued at $119,742,000 after acquiring an additional 1,739,892 shares during the last quarter. BlackRock Inc. raised its stake in shares of Target by 3.2% during the fourth quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock valued at $2,856,544,000 after acquiring an additional 1,334,425 shares during the last quarter. Finally, Argent Capital Management LLC raised its stake in shares of Target by 162.2% during the first quarter. Argent Capital Management LLC now owns 1,163,242 shares of the retailer’s stock valued at $93,362,000 after acquiring an additional 719,655 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Shares of TGT traded down $0.56 during trading hours on Friday, hitting $87.74. 1,073,531 shares of the stock were exchanged, compared to its average volume of 6,249,969. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $90.39. The company has a quick ratio of 0.19, a current ratio of 0.88 and a debt-to-equity ratio of 1.21. The stock has a market cap of $45.40 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. Target had a net margin of 3.96% and a return on equity of 26.48%. The company had revenue of $17.63 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the prior year, the company posted $1.32 earnings per share. Target’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Target Co. will post 5.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.66 per share. This is a boost from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 3.01%. Target’s dividend payout ratio is 47.50%.

TGT has been the subject of several analyst reports. Citigroup reaffirmed a “neutral” rating and set a $78.00 price target on shares of Target in a research note on Tuesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $88.00 price target (up previously from $86.00) on shares of Target in a research note on Wednesday, March 6th. BMO Capital Markets raised their price target on shares of Target from $70.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Deutsche Bank raised their price target on shares of Target from $80.00 to $84.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research raised shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Friday, March 8th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $89.33.

In other Target news, insider Robert M. Harrison sold 1,791 shares of the firm’s 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 directly owns 12,836 shares in the company, valued at $1,030,474.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Janna A. Potts sold 8,759 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total transaction of $691,961.00. Following the completion of the sale, the insider now owns 27,720 shares of the company’s stock, valued at $2,189,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,103 shares of company stock valued at $1,982,750. 0.19% of the stock is currently owned by corporate 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; 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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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