Sanders Morris Harris LLC Raises Stake in Target Co. (NYSE:TGT)

Sanders Morris Harris LLC increased its position in shares of Target Co. (NYSE:TGT - Free Report) by 1,063.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,291 shares of the retailer's stock after acquiring an additional 35,000 shares during the quarter. Target makes up about 0.6% of Sanders Morris Harris LLC's portfolio, making the stock its 29th biggest holding. Sanders Morris Harris LLC's holdings in Target were worth $3,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TGT. Brighton Jones LLC boosted its stake in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after buying an additional 3,059 shares during the period. Strategic Blueprint LLC boosted its stake in Target by 74.6% during the fourth quarter. Strategic Blueprint LLC now owns 2,716 shares of the retailer's stock worth $367,000 after buying an additional 1,160 shares during the period. Highland Capital Management LLC purchased a new position in Target during the fourth quarter worth about $479,000. SOL Capital Management CO lifted its position in shares of Target by 27.6% during the fourth quarter. SOL Capital Management CO now owns 3,880 shares of the retailer's stock worth $524,000 after purchasing an additional 840 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its position in shares of Target by 142.3% during the fourth quarter. Mediolanum International Funds Ltd now owns 11,524 shares of the retailer's stock worth $1,552,000 after purchasing an additional 6,767 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Price Performance

Target stock traded up $0.20 during midday trading on Thursday, reaching $94.14. The company's stock had a trading volume of 1,945,266 shares, compared to its average volume of 6,025,133. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock's 50 day simple moving average is $95.60 and its 200 day simple moving average is $117.00. The firm has a market capitalization of $42.77 billion, a PE ratio of 9.98, a P/E/G ratio of 1.94 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. On average, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Wednesday, May 14th. Target's dividend payout ratio is presently 49.23%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. KGI Securities set a $132.00 price target on shares of Target in a research report on Wednesday, March 5th. DA Davidson reduced their target price on shares of Target from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Jefferies Financial Group reduced their target price on shares of Target from $165.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their target price on shares of Target from $130.00 to $120.00 and set a "hold" rating on the stock in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Target presently has an average rating of "Hold" and a consensus target price of $116.70.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider now owns 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

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.