Chapin Davis Inc. Has $861,000 Holdings in Target Co. (NYSE:TGT)

Chapin Davis Inc. lifted its stake in Target Co. (NYSE:TGT) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,856 shares of the retailer’s stock after buying an additional 304 shares during the period. Chapin Davis Inc.’s holdings in Target were worth $861,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Norges Bank bought a new position in Target in the 4th quarter valued at $759,810,000. International Assets Investment Management LLC grew its holdings in shares of Target by 15,009.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after acquiring an additional 1,745,459 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Target by 51,357.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after acquiring an additional 1,218,204 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Target by 58.0% in the 4th quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after acquiring an additional 984,464 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Target by 9.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock worth $1,447,538,000 after purchasing an additional 868,274 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Stock Down 0.3 %

Shares of TGT traded down $0.45 during midday trading on Monday, reaching $147.59. The stock had a trading volume of 65,888 shares, compared to its average volume of 3,918,018. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a market cap of $68.28 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.39 and a beta of 1.19. The company’s fifty day simple moving average is $152.97 and its two-hundred day simple moving average is $153.33. 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 released its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 EPS. Equities research analysts expect that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The business also recently disclosed 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Guggenheim boosted their price objective on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Tigress Financial boosted their price objective on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. BMO Capital Markets reduced their price objective 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. Morgan Stanley cut their price target on shares of Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Finally, Evercore ISI upped their price objective on shares of Target from $165.00 to $166.00 and gave the company an “in-line” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and an average price target of $177.61.

Target 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.