Target Co. (NYSE:TGT) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its position in Target Co. (NYSE:TGT) by 44.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,765,496 shares of the retailer’s stock after purchasing an additional 544,920 shares during the period. Target comprises about 1.1% of Los Angeles Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Los Angeles Capital Management LLC’s holdings in Target were worth $312,864,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Target during the fourth quarter worth $28,000. Rakuten Securities Inc. purchased a new stake in shares of Target during the fourth quarter worth $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Target during the fourth quarter worth $29,000. Scarborough Advisors LLC purchased a new stake in shares of Target during the fourth quarter worth $29,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Target in the fourth quarter valued at about $33,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

NYSE:TGT traded down $2.43 during trading hours on Wednesday, reaching $142.54. 2,969,474 shares of the stock were exchanged, compared to its average volume of 4,997,087. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The firm has a 50 day simple moving average of $156.29 and a 200-day simple moving average of $152.70. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The stock has a market capitalization of $65.94 billion, a P/E ratio of 16.00, a P/E/G ratio of 1.36 and a beta of 1.20.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. As a group, sell-side analysts forecast that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.14%. Target’s payout ratio is presently 49.38%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TGT shares. Tigress Financial upped their price objective on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. UBS Group dropped their price objective on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 23rd. Royal Bank of Canada decreased their target price on shares of Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Finally, Bank of America upped their target price on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.11.

Insider Buying and Selling at Target

In other Target news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.