Alpha DNA Investment Management LLC Acquires 105 Shares of Target Co. (NYSE:TGT)

Alpha DNA Investment Management LLC increased its holdings in Target Co. (NYSE:TGT) by 35.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 404 shares of the retailer’s stock after purchasing an additional 105 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Target were worth $79,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Target by 4.4% during the first quarter. BlackRock Inc. now owns 38,768,116 shares of the retailer’s stock worth $7,678,800,000 after purchasing an additional 1,633,495 shares in the last quarter. Norges Bank acquired a new position in shares of Target during the fourth quarter worth $1,007,373,000. FMR LLC increased its position in shares of Target by 23.6% during the fourth quarter. FMR LLC now owns 5,493,847 shares of the retailer’s stock worth $969,830,000 after purchasing an additional 1,049,440 shares in the last quarter. Jennison Associates LLC increased its position in shares of Target by 1,562.3% during the first quarter. Jennison Associates LLC now owns 4,514,325 shares of the retailer’s stock worth $894,152,000 after purchasing an additional 4,242,754 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Target by 31.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,936,652 shares of the retailer’s stock worth $694,937,000 after purchasing an additional 950,131 shares in the last quarter. 78.24% of the stock is owned by institutional investors.

Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on Target from $205.00 to $250.00 and gave the company an “equal weight” rating in a research report on Monday, May 24th. Guggenheim raised Target from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Monday, March 8th. BMO Capital Markets upped their target price on Target from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, May 24th. JPMorgan Chase & Co. upped their target price on Target from $233.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. Finally, Barclays upped their target price on Target from $225.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 20th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $231.06.

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

TGT stock opened at $231.66 on Friday. The stock’s 50-day moving average price is $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. Target Co. has a 52-week low of $114.81 and a 52-week high of $236.80. The stock has a market cap of $114.61 billion, a price-to-earnings ratio of 18.90, a P/E/G 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 (EPS) for the quarter, topping the consensus estimate of $2.25 by $1.44. Target had a net margin of 6.30% and a return on equity of 45.70%. The business had revenue of $23.88 billion for the quarter, compared to analyst estimates of $21.13 billion. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, research analysts expect 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. Stockholders of record on Wednesday, August 18th will be paid a dividend of $0.90 per share. This is a positive change from Target’s previous quarterly dividend of $0.68. This represents a $3.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, August 17th. Target’s dividend payout ratio is presently 28.87%.

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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