Pictet Asset Management Ltd. Grows Stock Holdings in Target Co. (NYSE:TGT)

Pictet Asset Management Ltd. grew its position in shares of Target Co. (NYSE:TGT) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 634,611 shares of the retailer’s stock after purchasing an additional 12,707 shares during the period. Pictet Asset Management Ltd.’s holdings in Target were worth $54,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TGT. Meadow Creek Investment Management LLC boosted its position in Target by 2.1% during the second quarter. Meadow Creek Investment Management LLC now owns 159,562 shares of the retailer’s stock valued at $13,820,000 after buying an additional 3,230 shares during the period. Glen Harbor Capital Management LLC lifted its stake in shares of Target by 2.1% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 103,246 shares of the retailer’s stock valued at $8,942,000 after acquiring an additional 2,090 shares during the last quarter. Elkfork Partners LLC lifted its stake in shares of Target by 2.1% in the 2nd quarter. Elkfork Partners LLC now owns 131,404 shares of the retailer’s stock valued at $11,381,000 after acquiring an additional 2,660 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Target during the 2nd quarter valued at about $25,000. Finally, Aptus Capital Advisors LLC boosted its holdings in Target by 11.5% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,035 shares of the retailer’s stock valued at $436,000 after acquiring an additional 520 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:TGT traded up $0.14 during trading on Wednesday, hitting $108.97. The stock had a trading volume of 178,945 shares, compared to its average volume of 7,995,068. Target Co. has a 12 month low of $60.15 and a 12 month high of $110.94. The company has a market capitalization of $55.15 billion, a PE ratio of 20.21, a PEG ratio of 2.49 and a beta of 0.53. The firm’s fifty day moving average is $93.78 and its 200 day moving average is $84.06. The company has a quick ratio of 0.21, a current ratio of 0.84 and a debt-to-equity ratio of 1.05.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The company had revenue of $18.42 billion for the quarter, compared to analyst estimates of $18.32 billion. Target had a return on equity of 27.43% and a net margin of 4.10%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.47 earnings per share. Equities research analysts expect that Target Co. will post 6.13 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.66 per share. The ex-dividend date was Tuesday, August 20th. This represents a $2.64 annualized dividend and a yield of 2.42%. This is a positive change from Target’s previous quarterly dividend of $0.64. Target’s dividend payout ratio (DPR) is currently 48.98%.

In related news, insider Laysha Ward sold 20,000 shares of Target stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $110.23, for a total transaction of $2,204,600.00. Following the completion of the transaction, the insider now directly owns 88,171 shares of the company’s stock, valued at approximately $9,719,089.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Edward Mcnamara sold 20,386 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $108.25, for a total transaction of $2,206,784.50. Following the sale, the insider now directly owns 64,517 shares in the company, valued at approximately $6,983,965.25. The disclosure for this sale can be found here. Insiders sold a total of 97,532 shares of company stock worth $10,121,671 over the last ninety days. Insiders own 0.24% of the company’s stock.

A number of equities research analysts have issued reports on TGT shares. Goldman Sachs Group initiated coverage on shares of Target in a research report on Thursday, July 11th. They issued a “buy” rating and a $102.00 price objective on the stock. Buckingham Research reiterated a “buy” rating and set a $117.00 target price (up from $102.00) on shares of Target in a report on Thursday, August 22nd. Guggenheim reiterated a “hold” rating on shares of Target in a report on Wednesday, August 21st. KeyCorp raised their target price on Target from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Co upgraded Target from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $102.37.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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