Meiji Yasuda Life Insurance Co cut its stake in shares of Target Co. (NYSE:TGT) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,058 shares of the retailer’s stock after selling 1,210 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Target were worth $1,369,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. First Command Bank lifted its position in Target by 17.7% in the first quarter. First Command Bank now owns 904 shares of the retailer’s stock worth $73,000 after purchasing an additional 136 shares during the period. Horrell Capital Management Inc. lifted its position in Target by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 31,167 shares of the retailer’s stock worth $2,501,000 after purchasing an additional 138 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Target by 62.2% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock worth $29,000 after purchasing an additional 140 shares during the period. Abbrea Capital LLC lifted its position in Target by 4.0% in the first quarter. Abbrea Capital LLC now owns 3,754 shares of the retailer’s stock worth $301,000 after purchasing an additional 143 shares during the period. Finally, Monarch Capital Management Inc. lifted its position in Target by 0.7% in the first quarter. Monarch Capital Management Inc. now owns 21,519 shares of the retailer’s stock worth $1,727,000 after purchasing an additional 150 shares during the period. 83.47% of the stock is owned by institutional investors.
Shares of NYSE:TGT traded up $0.21 on Wednesday, reaching $88.06. 1,976,971 shares of the company traded hands, compared to its average volume of 5,282,136. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $90.39. The company has a market capitalization of $45.01 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.57. 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 (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.10. Target had a return on equity of 26.48% and a net margin of 3.96%. The company had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that Target Co. will post 5.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.91%. The ex-dividend date was Tuesday, May 14th. Target’s dividend payout ratio (DPR) is currently 47.50%.
In other Target news, insider Michael Edward Mcnamara sold 5,186 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total transaction of $410,627.48. Following the sale, the insider now directly owns 77,550 shares of the company’s stock, valued at approximately $6,140,409. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.28, for a total transaction of $143,781.48. Following the sale, the insider now directly owns 12,836 shares in the company, valued at $1,030,474.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,736 shares of company stock worth $1,246,370. Company insiders own 0.19% of the company’s stock.
A number of research firms have weighed in on TGT. Bank of America set a $105.00 target price on Target and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Credit Suisse Group set a $90.00 target price on Target and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Citigroup upped their target price on Target from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Barclays upgraded Target from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $115.00 in a research report on Monday, April 29th. Finally, Morgan Stanley upgraded Target from an “underweight” rating to an “equal weight” rating and set a $67.00 price objective for the company in a research report on Monday, May 20th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Target has an average rating of “Buy” and an average target price of $89.33.
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Target Company 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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