Public Employees Retirement System of Ohio Sells 15,414 Shares of Target Co. (NYSE:TGT)

Public Employees Retirement System of Ohio lessened its holdings in shares of Target Co. (NYSE:TGT) by 6.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,199 shares of the retailer’s stock after selling 15,414 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Target were worth $38,667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Target in the fourth quarter valued at approximately $759,810,000. International Assets Investment Management LLC raised its stake in Target by 15,009.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after purchasing an additional 1,745,459 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Target by 51,357.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after purchasing an additional 1,218,204 shares in the last quarter. Clearbridge Investments LLC raised its stake in Target by 58.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after purchasing an additional 984,464 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Target by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after purchasing an additional 868,274 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Down 1.5 %

Target stock traded down $2.18 during mid-day trading on Monday, reaching $146.82. The stock had a trading volume of 1,696,917 shares, compared to its average volume of 3,835,787. The company has a market capitalization of $67.92 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.40 and a beta of 1.19. The company has a 50-day moving average price of $147.98 and a two-hundred day moving average price of $154.48. Target Co. has a one year low of $102.93 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same period last year, the firm posted $2.05 EPS. Target’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 3.05%. Target’s payout ratio is 49.38%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TGT shares. Gordon Haskett raised their target price on shares of Target from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price target on shares of Target in a research note on Wednesday, May 22nd. BMO Capital Markets decreased their price target on shares of Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. Finally, Jefferies Financial Group lifted their price target on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.57.

About Target

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.