Point72 Asset Management L.P. Has $43.16 Million Stake in Target Co. (NYSE:TGT)

Point72 Asset Management L.P. increased its stake in shares of Target Co. (NYSE:TGT) by 75.0% during the first quarter, HoldingsChannel reports. The fund owned 217,913 shares of the retailer’s stock after buying an additional 93,385 shares during the period. Point72 Asset Management L.P.’s holdings in Target were worth $43,162,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TGT. OLD Mission Capital LLC acquired a new stake in shares of Target during the third quarter worth $200,000. Berman Capital Advisors LLC grew its position in shares of Target by 7.2% in the 4th quarter. Berman Capital Advisors LLC now owns 2,671 shares of the retailer’s stock valued at $470,000 after acquiring an additional 180 shares during the period. Principle Wealth Partners LLC grew its position in shares of Target by 8.9% in the 4th quarter. Principle Wealth Partners LLC now owns 2,592 shares of the retailer’s stock valued at $458,000 after acquiring an additional 212 shares during the period. Engineers Gate Manager LP grew its position in shares of Target by 6.4% in the 4th quarter. Engineers Gate Manager LP now owns 11,972 shares of the retailer’s stock valued at $2,113,000 after acquiring an additional 720 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new position in shares of Target in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 78.52% of the company’s stock.

Shares of NYSE TGT opened at $257.19 on Thursday. 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 business’s fifty day moving average is $235.25. Target Co. has a 12-month low of $120.00 and a 12-month high of $256.43. The company has a market capitalization of $127.24 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.59 and a beta of 1.01.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, May 18th. The retailer reported $3.69 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm 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 posted $0.59 earnings per share. The business’s revenue was up 23.3% on a year-over-year basis. As a group, equities analysts anticipate that Target Co. will post 12.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Wednesday, August 18th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, August 17th. This is an increase from Target’s previous quarterly dividend of $0.68. Target’s dividend payout ratio (DPR) is 28.87%.

In other Target news, insider Don H. Liu sold 13,985 shares of the stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $253.90, for a total transaction of $3,550,791.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cara A. Sylvester sold 1,950 shares of the stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $227.56, for a total transaction of $443,742.00. Following the transaction, the insider now owns 7,360 shares of the company’s stock, valued at approximately $1,674,841.60. The disclosure for this sale can be found here. Insiders have sold 20,693 shares of company stock valued at $5,032,015 in the last 90 days. 0.52% of the stock is currently owned by corporate insiders.

Several analysts recently commented on the stock. Telsey Advisory Group lifted their target price on shares of Target from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Thursday, May 20th. Stifel Nicolaus lifted their target price on shares of Target from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. MKM Partners boosted their price objective on shares of Target from $170.00 to $216.00 and gave the company a “neutral” rating in a report on Tuesday, May 25th. Argus boosted their price objective on shares of Target from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Target from $233.00 to $260.00 and gave the company an “overweight” rating in a report on Tuesday, May 25th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $234.39.

About Target

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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