Alphinity Investment Management Pty Ltd Invests $26.24 Million in Target Co. (TGT)

Alphinity Investment Management Pty Ltd acquired a new stake in shares of Target Co. (NYSE:TGT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 297,522 shares of the retailer’s stock, valued at approximately $26,244,000. Target comprises approximately 5.0% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its 5th biggest position.

Several other institutional investors have also recently made changes to their positions in TGT. Dearborn Partners LLC grew its position in shares of Target by 9.7% in the 3rd quarter. Dearborn Partners LLC now owns 6,784 shares of the retailer’s stock worth $598,000 after buying an additional 600 shares during the last quarter. NewSquare Capital LLC grew its position in shares of Target by 2.6% in the 3rd quarter. NewSquare Capital LLC now owns 25,031 shares of the retailer’s stock worth $2,208,000 after buying an additional 632 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Target by 3.5% in the 2nd quarter. Trust Co. of Vermont now owns 19,236 shares of the retailer’s stock worth $1,464,000 after buying an additional 647 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of Target by 10.7% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,895 shares of the retailer’s stock worth $608,000 after buying an additional 668 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in shares of Target by 4.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,551 shares of the retailer’s stock worth $1,184,000 after buying an additional 671 shares during the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

In other news, insider Janna A. Potts sold 15,172 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $88.00, for a total value of $1,335,136.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephanie A. Lundquist sold 2,100 shares of the business’s stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

TGT opened at $84.41 on Friday. The company has a market capitalization of $44.43 billion, a PE ratio of 16.65, a PEG ratio of 2.33 and a beta of 0.73. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.17. Target Co. has a 52 week low of $54.04 and a 52 week high of $90.39.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 22nd. The retailer reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.07. The company had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. As a group, research analysts expect that Target Co. will post 5.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Tuesday, November 20th. Target’s dividend payout ratio is currently 54.35%.

A number of equities research analysts have recently weighed in on TGT shares. Gordon Haskett upgraded Target from a “hold” rating to an “accumulate” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Tuesday, August 7th. Bank of America set a $90.00 price objective on Target and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Barclays lifted their price objective on Target from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 23rd. Finally, Stifel Nicolaus lifted their price objective on Target from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $87.68.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

Featured Story: Buyback

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply