Invictus RG Acquires New Position in Target Co. (TGT)

Invictus RG acquired a new stake in shares of Target Co. (NYSE:TGT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,122 shares of the retailer’s stock, valued at approximately $275,000.

Several other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Target during the second quarter valued at about $483,000. Alps Advisors Inc. grew its holdings in Target by 11.6% in the second quarter. Alps Advisors Inc. now owns 794,583 shares of the retailer’s stock worth $51,847,000 after purchasing an additional 82,878 shares during the period. Fiera Capital Corp grew its holdings in Target by 13.1% in the second quarter. Fiera Capital Corp now owns 7,089 shares of the retailer’s stock worth $540,000 after purchasing an additional 819 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Target by 1.7% in the second quarter. CIBC Private Wealth Group LLC now owns 89,791 shares of the retailer’s stock worth $6,836,000 after purchasing an additional 1,473 shares during the period. Finally, State of Wisconsin Investment Board grew its holdings in Target by 3.0% in the second quarter. State of Wisconsin Investment Board now owns 529,424 shares of the retailer’s stock worth $40,300,000 after purchasing an additional 15,541 shares during the period. 82.11% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have weighed in on the stock. Bank of America set a $90.00 price objective on shares of Target and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Citigroup upped their price objective on shares of Target from $76.00 to $92.00 and gave the stock a “neutral” rating in a report on Monday, August 27th. Deutsche Bank set a $90.00 price objective on shares of Target and gave the stock a “hold” rating in a report on Saturday, August 25th. Credit Suisse Group set a $86.00 price objective on shares of Target and gave the stock a “hold” rating in a report on Saturday, August 25th. Finally, BMO Capital Markets assumed coverage on shares of Target in a report on Monday, September 17th. They issued a “market perform” rating and a $88.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Target currently has a consensus rating of “Hold” and a consensus price target of $87.71.

In other news, insider Stephanie A. Lundquist sold 2,100 shares of the stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Janna A. Potts sold 15,172 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $88.00, for a total transaction of $1,335,136.00. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

NYSE:TGT opened at $67.81 on Friday. Target Co. has a 52 week low of $60.65 and a 52 week high of $90.39. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.13 and a current ratio of 0.83. The company has a market cap of $36.29 billion, a PE ratio of 13.25, a PEG ratio of 2.16 and a beta of 0.70.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, November 20th. The retailer reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.02). Target had a net margin of 4.31% and a return on equity of 25.02%. The firm had revenue of $17.59 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts predict that Target Co. will post 5.39 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Tuesday, November 20th. Target’s payout ratio is 54.35%.

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About Target

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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