Artemis Investment Management LLP Acquires New Position in Target Co. (NYSE:TGT)

Artemis Investment Management LLP acquired a new stake in Target Co. (NYSE:TGT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 40,328 shares of the retailer’s stock, valued at approximately $7,143,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Bank of Nova Scotia raised its position in shares of Target by 153.4% in the 3rd quarter. Bank of Nova Scotia now owns 77,882 shares of the retailer’s stock valued at $8,611,000 after purchasing an additional 47,144 shares during the last quarter. Toronto Dominion Bank raised its position in Target by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 254,622 shares of the retailer’s stock worth $28,154,000 after buying an additional 29,206 shares during the last quarter. Cape Cod Five Cents Savings Bank raised its position in Target by 96.5% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 20,210 shares of the retailer’s stock worth $2,235,000 after buying an additional 9,925 shares during the last quarter. CWA Asset Management Group LLC raised its position in Target by 6.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 3,110 shares of the retailer’s stock worth $344,000 after buying an additional 190 shares during the last quarter. Finally, Teza Capital Management LLC raised its position in Target by 168.3% during the 3rd quarter. Teza Capital Management LLC now owns 14,032 shares of the retailer’s stock worth $1,552,000 after buying an additional 8,802 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 1.0 %

Shares of TGT opened at $148.14 on Friday. The firm has a market cap of $68.54 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company’s 50-day moving average price is $152.97 and its 200 day moving average price is $153.10. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. On average, sell-side analysts forecast that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.02%. Target’s dividend payout ratio is 50.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. BMO Capital Markets reduced their price target on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Guggenheim raised their price target on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Wells Fargo & Company raised their price target on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada dropped their price objective on shares of Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.61.

Target Company 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.