Target Co. (NYSE:TGT) Shares Bought by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC grew its position in shares of Target Co. (NYSE:TGT) by 72.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,100 shares of the retailer’s stock after buying an additional 1,724 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Target were worth $607,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Candriam S.C.A. grew its holdings in Target by 19.5% during the second quarter. Candriam S.C.A. now owns 95,932 shares of the retailer’s stock worth $14,201,000 after acquiring an additional 15,671 shares during the period. New York Life Investment Management LLC boosted its position in shares of Target by 0.3% during the 2nd quarter. New York Life Investment Management LLC now owns 70,447 shares of the retailer’s stock worth $10,429,000 after purchasing an additional 190 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Target by 0.7% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 59,045 shares of the retailer’s stock worth $8,741,000 after purchasing an additional 386 shares during the period. Slocum Gordon & Co LLP purchased a new position in shares of Target in the 2nd quarter valued at about $28,000. Finally, Arizona State Retirement System increased its holdings in shares of Target by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 133,846 shares of the retailer’s stock valued at $19,815,000 after purchasing an additional 1,365 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Target Stock Performance

NYSE:TGT opened at $151.29 on Friday. The company has a market cap of $69.99 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.99 and a beta of 1.24. The firm’s 50 day moving average is $147.63 and its two-hundred day moving average is $155.06. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $1.80 EPS. Analysts expect that Target Co. will post 9.49 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 annualized dividend and a yield of 2.96%. Target’s dividend payout ratio (DPR) is presently 50.28%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TGT shares. Evercore ISI upped their target price on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Jefferies Financial Group upped their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. BMO Capital Markets reduced their price objective on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a report on Thursday, May 23rd. Royal Bank of Canada upped their target price on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Target from $209.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.68.

Target Profile

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.