Oliver Luxxe Assets LLC reduced its holdings in Target Co. (NYSE:TGT) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,506 shares of the retailer’s stock after selling 1,806 shares during the period. Target comprises 2.0% of Oliver Luxxe Assets LLC’s holdings, making the stock its 9th largest position. Oliver Luxxe Assets LLC’s holdings in Target were worth $3,412,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. One Capital Management LLC lifted its position in Target by 1.9% during the fourth quarter. One Capital Management LLC now owns 36,001 shares of the retailer’s stock worth $2,379,000 after buying an additional 656 shares in the last quarter. Truewealth LLC raised its position in Target by 70.7% in the fourth quarter. Truewealth LLC now owns 881 shares of the retailer’s stock valued at $58,000 after purchasing an additional 365 shares during the period. Lord Abbett & CO. LLC raised its position in Target by 40.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 897,700 shares of the retailer’s stock valued at $59,329,000 after purchasing an additional 260,700 shares during the period. Actinver Wealth Management Inc. purchased a new stake in Target in the fourth quarter valued at $835,000. Finally, Swedbank raised its position in Target by 4.5% in the fourth quarter. Swedbank now owns 2,349,986 shares of the retailer’s stock valued at $152,655,000 after purchasing an additional 101,671 shares during the period. 82.98% of the stock is currently owned by institutional investors.
TGT has been the topic of a number of research analyst reports. Telsey Advisory Group restated an “outperform” rating and issued a $92.00 target price (up previously from $88.00) on shares of Target in a research report on Thursday, April 18th. Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. BMO Capital Markets boosted their price objective on Target from $70.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday, March 8th. Finally, Evercore ISI started coverage on Target in a report on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Target has a consensus rating of “Buy” and an average target price of $89.97.
Shares of NYSE:TGT traded down $1.13 on Wednesday, hitting $79.64. 5,638,688 shares of the company’s stock were exchanged, compared to its average volume of 5,287,617. The stock has a market cap of $42.05 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.09 and a beta of 0.65. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88. Target Co. has a 1-year low of $60.15 and a 1-year high of $90.39.
Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.10. The firm had revenue of $17.63 billion during the quarter, compared to analysts’ expectations of $17.49 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 EPS. On average, equities research analysts predict that Target Co. will post 5.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 47.50%.
In related news, insider Cathy R. Smith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $74.00, for a total value of $2,220,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert M. Harrison sold 1,791 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was 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. Over the last three months, insiders have sold 45,736 shares of company stock valued at $3,466,370. Company insiders own 0.19% of the company’s stock.
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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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