Fifth Third Bancorp Purchases 348 Shares of Target Co. (NYSE:TGT)

Fifth Third Bancorp lifted its position in shares of Target Co. (NYSE:TGTFree Report) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,163 shares of the retailer’s stock after acquiring an additional 348 shares during the period. Fifth Third Bancorp’s holdings in Target were worth $11,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Pinnacle Associates Ltd. boosted its holdings in Target by 2.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 40,878 shares of the retailer’s stock worth $5,822,000 after purchasing an additional 804 shares during the last quarter. Woodmont Investment Counsel LLC purchased a new stake in Target in the fourth quarter worth approximately $245,000. Griffin Asset Management Inc. boosted its holdings in Target by 0.3% in the fourth quarter. Griffin Asset Management Inc. now owns 62,014 shares of the retailer’s stock worth $8,832,000 after purchasing an additional 188 shares during the last quarter. Great Waters Wealth Management purchased a new stake in Target in the fourth quarter worth approximately $277,000. Finally, Mendota Financial Group LLC purchased a new stake in Target in the fourth quarter worth approximately $161,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 1.5 %

Shares of TGT stock opened at $177.21 on Monday. The stock has a market cap of $81.82 billion, a P/E ratio of 19.84, a PEG ratio of 1.66 and a beta of 1.13. Target Co. has a 52 week low of $102.93 and a 52 week high of $177.40. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The company’s fifty day simple moving average is $155.53 and its two-hundred day simple moving average is $135.41.

Target (NYSE:TGTGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS. Analysts predict that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is currently 49.27%.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock worth $8,819,598 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TGT shares. Barclays raised their target price on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Target from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $206.00 in a report on Wednesday, March 6th. Morgan Stanley lifted their price target on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Citigroup boosted their price objective on shares of Target from $142.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Finally, DA Davidson boosted their price objective on shares of Target from $167.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $179.73.

Read Our Latest Stock Analysis on Target

Target Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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