Norinchukin Bank The Acquires 690 Shares of Target Co. (NYSE:TGT)

Norinchukin Bank The lifted its holdings in shares of Target Co. (NYSE:TGT) by 1.7% in the first quarter, Holdings Channel.com reports. The fund owned 41,675 shares of the retailer’s stock after purchasing an additional 690 shares during the period. Norinchukin Bank The’s holdings in Target were worth $8,255,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TGT. OLD Mission Capital LLC bought a new position in shares of Target during the third quarter valued at approximately $200,000. CIBC Asset Management Inc raised its holdings in shares of Target by 1.5% during the fourth quarter. CIBC Asset Management Inc now owns 58,264 shares of the retailer’s stock valued at $10,285,000 after acquiring an additional 844 shares in the last quarter. Jackson Creek Investment Advisors LLC raised its holdings in shares of Target by 9.9% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 5,067 shares of the retailer’s stock valued at $894,000 after acquiring an additional 457 shares in the last quarter. Prio Wealth Limited Partnership raised its holdings in shares of Target by 12.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 2,608 shares of the retailer’s stock valued at $460,000 after acquiring an additional 293 shares in the last quarter. Finally, RB Capital Management LLC grew its stake in Target by 4.8% in the fourth quarter. RB Capital Management LLC now owns 1,910 shares of the retailer’s stock worth $337,000 after purchasing an additional 88 shares during the period. Institutional investors own 78.24% of the company’s stock.

TGT stock opened at $231.66 on Friday. Target Co. has a fifty-two week low of $114.81 and a fifty-two week high of $236.80. The firm has a 50-day moving average price of $214.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.51 and a current ratio of 1.07. The company has a market capitalization of $114.61 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01.

Target (NYSE:TGT) last posted its earnings results on Tuesday, May 18th. The retailer reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $1.44. Target had a return on equity of 45.70% and a net margin of 6.30%. The company had revenue of $23.88 billion for the quarter, compared to the consensus estimate of $21.13 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. Target’s revenue was up 23.3% on a year-over-year basis. On average, sell-side analysts anticipate that Target Co. will post 11.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Wednesday, August 18th will be issued a $0.90 dividend. This is an increase from Target’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, August 17th. This represents a $3.60 dividend on an annualized basis and a yield of 1.55%. Target’s dividend payout ratio is currently 28.87%.

In other news, insider Christina Hennington sold 1,852 shares of the firm’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $183.00, for a total value of $338,916.00. Following the transaction, the insider now owns 25,249 shares of the company’s stock, valued at $4,620,567. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cara A. Sylvester sold 1,950 shares of the firm’s stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $227.56, for a total value of $443,742.00. Following the completion of the transaction, the insider now directly owns 7,360 shares in the company, valued at approximately $1,674,841.60. The disclosure for this sale can be found here. In the last three months, insiders sold 46,218 shares of company stock worth $9,483,744. 0.52% of the stock is owned by corporate insiders.

Several equities research analysts recently weighed in on TGT shares. BMO Capital Markets upped their price target on Target from $225.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, May 24th. Morgan Stanley upped their price target on Target from $205.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, May 24th. Evercore ISI reaffirmed a “hold” rating on shares of Target in a research note on Sunday, May 23rd. Telsey Advisory Group upped their price target on Target from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Thursday, May 20th. Finally, Zacks Investment Research cut Target from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research note on Friday, March 5th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $231.06.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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