Mutual of America Capital Management LLC Acquires 15,060 Shares of Target Co. (NYSE:TGT)

Mutual of America Capital Management LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 12.7% during the 1st quarter, Holdings Channel reports. The firm owned 133,967 shares of the retailer’s stock after buying an additional 15,060 shares during the period. Mutual of America Capital Management LLC’s holdings in Target were worth $12,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Argent Trust Co raised its stake in Target by 0.3% during the 4th quarter. Argent Trust Co now owns 29,738 shares of the retailer’s stock valued at $3,812,000 after purchasing an additional 89 shares during the period. Glassman Wealth Services increased its stake in Target by 22.4% in the 4th quarter. Glassman Wealth Services now owns 492 shares of the retailer’s stock worth $63,000 after acquiring an additional 90 shares during the last quarter. Personal Wealth Partners increased its stake in Target by 38.6% in the 4th quarter. Personal Wealth Partners now owns 334 shares of the retailer’s stock worth $43,000 after acquiring an additional 93 shares during the last quarter. Corient Capital Partners LLC increased its stake in Target by 1.2% in the 4th quarter. Corient Capital Partners LLC now owns 7,889 shares of the retailer’s stock worth $1,012,000 after acquiring an additional 95 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC increased its stake in Target by 3.6% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 2,845 shares of the retailer’s stock worth $365,000 after acquiring an additional 100 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors.

TGT has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Target in a research note on Wednesday. Nomura Securities reaffirmed a “buy” rating and issued a $131.00 price objective on shares of Target in a research note on Monday, March 23rd. Bank of America lifted their price objective on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird lifted their price objective on Target from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Nomura dropped their target price on Target from $131.00 to $121.00 and set a “buy” rating for the company in a report on Friday, April 24th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $128.21.

TGT traded down $1.19 during trading hours on Friday, reaching $117.49. 4,835,356 shares of the company’s stock traded hands, compared to its average volume of 5,780,963. The firm has a 50-day moving average price of $109.72 and a 200 day moving average price of $114.20. Target Co. has a 52-week low of $76.86 and a 52-week high of $130.24. The company has a quick ratio of 0.27, a current ratio of 1.01 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $59.32 billion, a PE ratio of 21.76, a PEG ratio of 4.03 and a beta of 0.75.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.19. Target had a return on equity of 24.17% and a net margin of 3.46%. The business had revenue of $19.37 billion during the quarter, compared to analysts’ expectations of $19.04 billion. During the same period in the prior year, the business earned $1.53 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts predict that Target Co. will post 4.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, May 19th. Target’s dividend payout ratio is 41.31%.

In other Target news, CAO Robert M. Harrison sold 464 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $107.67, for a total value of $49,958.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert M. Harrison sold 631 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $102.00, for a total value of $64,362.00. Following the completion of the sale, the chief accounting officer now owns 9,634 shares of the company’s stock, valued at $982,668. The disclosure for this sale can be found here. Insiders sold a total of 111,095 shares of company stock valued at $13,314,321 over the last quarter. Company insiders own 0.24% of the company’s stock.

About Target

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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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