Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Stake in Target Co. (NYSE:TGT)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Target Co. (NYSE:TGT) by 13.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,828 shares of the retailer’s stock after acquiring an additional 17,774 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Target were worth $14,022,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TGT. Argent Trust Co increased its holdings in Target by 0.3% in the fourth quarter. Argent Trust Co now owns 29,738 shares of the retailer’s stock valued at $3,812,000 after buying an additional 89 shares during the last quarter. Glassman Wealth Services increased its holdings in shares of Target by 22.4% in the 4th quarter. Glassman Wealth Services now owns 492 shares of the retailer’s stock valued at $63,000 after acquiring an additional 90 shares during the last quarter. Personal Wealth Partners increased its holdings in shares of Target by 38.6% in the 4th quarter. Personal Wealth Partners now owns 334 shares of the retailer’s stock valued at $43,000 after acquiring an additional 93 shares during the last quarter. Corient Capital Partners LLC raised its position in shares of Target by 1.2% during 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 in the last quarter. Finally, Wealth Alliance Advisory Group LLC lifted its stake in Target by 3.6% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 2,845 shares of the retailer’s stock worth $365,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.

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

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.19. Target had a net margin of 3.46% and a return on equity of 24.17%. The firm 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 company posted $1.53 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts expect that Target Co. will post 4.62 EPS for the current fiscal year.

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

In other news, insider Brian C. Cornell sold 110,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the transaction, the insider now directly owns 208,502 shares of the company’s stock, valued at approximately $25,020,240. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Robert M. Harrison sold 464 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $107.67, for a total transaction of $49,958.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,095 shares of company stock worth $13,314,321. Company insiders own 0.24% of the company’s stock.

A number of analysts have weighed in on TGT shares. Telsey Advisory Group reissued an “outperform” rating on shares of Target in a report on Wednesday, February 26th. Goldman Sachs Group upgraded shares of Target from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, March 4th. Cfra upped their price objective on shares of Target from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. UBS Group lifted their target price on Target from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Deutsche Bank boosted their target price on Target from $121.00 to $131.00 and gave the company a “buy” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $128.21.

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 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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