Canada Pension Plan Investment Board boosted its stake in Target Co. (NYSE:TGT) by 236.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 379,820 shares of the retailer’s stock after buying an additional 266,913 shares during the period. Canada Pension Plan Investment Board’s holdings in Target were worth $20,962,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of TGT. Cribstone Capital Management LLC boosted its stake in Target by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the last quarter. First National Bank Sioux Falls boosted its stake in Target by 18.5% in the third quarter. First National Bank Sioux Falls now owns 1,603 shares of the retailer’s stock worth $110,000 after buying an additional 250 shares during the last quarter. Reilly Financial Advisors LLC boosted its stake in Target by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the last quarter. Pinnacle Bank bought a new stake in Target during the first quarter worth approximately $123,000. Finally, Peoples Financial Services CORP. boosted its stake in Target by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the last quarter. Institutional investors own 88.53% of the company’s stock.
Shares of Target Co. (NYSE:TGT) opened at 54.49 on Wednesday. The firm has a 50-day moving average of $55.20 and a 200 day moving average of $64.00. Target Co. has a 12 month low of $52.72 and a 12 month high of $79.33. The company has a market cap of $30.06 billion, a price-to-earnings ratio of 11.17 and a beta of 0.63.
Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. The firm had revenue of $16.02 billion for the quarter, compared to the consensus estimate of $15.63 billion. Target had a net margin of 4.75% and a return on equity of 25.18%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. On average, analysts expect that Target Co. will post $4.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Monday, May 15th. Target’s payout ratio is presently 42.93%.
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A number of equities research analysts have commented on the stock. TheStreet cut shares of Target from a “b-” rating to a “c+” rating in a report on Monday, March 27th. Jefferies Group LLC restated a “hold” rating and issued a $59.00 price target (up from $56.00) on shares of Target in a report on Friday, May 19th. Telsey Advisory Group raised their price target on shares of Target from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Thursday, May 18th. Zacks Investment Research upgraded shares of Target from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $59.00 price target (up from $55.00) on shares of Target in a report on Friday, May 19th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $65.49.
In related news, insider Cathy R. Smith purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were purchased at an average price of $58.95 per share, with a total value of $294,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donald R. Knauss purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were bought at an average cost of $54.86 per share, for a total transaction of $548,600.00. Following the acquisition, the director now owns 16,431 shares in the company, valued at $901,404.66. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 19,000 shares of company stock worth $1,073,750. Insiders own 0.25% of the company’s stock.
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.
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