Private Capital Management Inc. Boosts Stake in Target Corporation (NYSE:TGT)

Private Capital Management Inc. raised its stake in shares of Target Corporation (NYSE:TGT) by 5.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,700 shares of the retailer’s stock after buying an additional 1,100 shares during the period. Target Corporation accounts for approximately 1.3% of Private Capital Management Inc.’s holdings, making the stock its 13th largest position. Private Capital Management Inc.’s holdings in Target Corporation were worth $1,135,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock valued at $568,896,000 after buying an additional 1,279,077 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock valued at $527,380,000 after buying an additional 996,689 shares in the last quarter. Hexavest Inc. acquired a new position in shares of Target Corporation during the second quarter valued at approximately $41,629,000. Finally, Schroder Investment Management Group boosted its position in shares of Target Corporation by 112.5% in the first quarter. Schroder Investment Management Group now owns 1,126,610 shares of the retailer’s stock valued at $62,245,000 after buying an additional 596,551 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Target Corporation (NYSE TGT) traded down 0.84% during midday trading on Friday, hitting $55.65. 4,738,485 shares of the stock traded hands. The company has a 50-day moving average price of $54.68 and a 200-day moving average price of $56.16. The firm has a market cap of $30.40 billion, a P/E ratio of 11.24 and a beta of 0.61. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33.

Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 earnings per share. Analysts predict that Target Corporation will post $4.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a $0.62 dividend. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.46%. Target Corporation’s dividend payout ratio (DPR) is currently 50.00%.

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Several equities analysts have commented on TGT shares. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 price objective (up from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective for the company in a research report on Wednesday, May 10th. Zacks Investment Research raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the stock. Target Corporation presently has an average rating of “Hold” and an average target price of $61.64.

In other news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Target Corporation Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

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