MEMBERS Trust Co boosted its position in Target Co. (NYSE:TGT) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,671 shares of the retailer’s stock after purchasing an additional 105 shares during the quarter. MEMBERS Trust Co’s holdings in Target were worth $420,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Rockbridge Investment Management LCC acquired a new stake in Target in the 2nd quarter valued at about $27,000. Hall Laurie J Trustee bought a new position in Target during the third quarter valued at approximately $37,000. JJJ Advisors Inc. boosted its holdings in Target by 141.8% in the third quarter. JJJ Advisors Inc. now owns 237 shares of the retailer’s stock worth $37,000 after purchasing an additional 139 shares during the last quarter. Knuff & Co LLC purchased a new stake in Target during the 3rd quarter valued at $39,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Target by 201.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 259 shares of the retailer’s stock valued at $41,000 after buying an additional 173 shares during the period. 80.87% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on TGT shares. MKM Partners began coverage on Target in a report on Wednesday, July 29th. They issued a “sell” rating and a $105.00 target price on the stock. Tigress Financial reiterated a “buy” rating on shares of Target in a research report on Wednesday, September 23rd. BMO Capital Markets lifted their price objective on shares of Target from $135.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, August 20th. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Thursday, August 20th. Finally, DA Davidson assumed coverage on Target in a research report on Friday, August 14th. They set a “buy” rating and a $152.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $142.57.
Shares of TGT stock traded down $2.27 during mid-day trading on Tuesday, hitting $162.91. 80,836 shares of the company’s stock were exchanged, compared to its average volume of 4,939,293. The stock has a market cap of $82.69 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 3.16 and a beta of 0.85. The stock has a 50-day simple moving average of $159.89 and a two-hundred day simple moving average of $136.34. Target Co. has a fifty-two week low of $90.17 and a fifty-two week high of $167.42. The company has a quick ratio of 0.55, a current ratio of 1.11 and a debt-to-equity ratio of 1.13.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 19th. The retailer reported $3.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $1.74. The business had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $20.11 billion. Target had a net margin of 4.16% and a return on equity of 30.25%. Target’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share. As a group, analysts anticipate that Target Co. will post 7.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, November 17th. Target’s dividend payout ratio (DPR) is presently 42.57%.
In other news, insider Stephanie A. Lundquist sold 4,471 shares of the company’s stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $161.00, for a total value of $719,831.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian C. Cornell sold 100,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $153.11, for a total transaction of $15,311,000.00. Following the sale, the insider now owns 247,379 shares of the company’s stock, valued at approximately $37,876,198.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,789 shares of company stock valued at $23,084,422. Corporate insiders own 0.52% of the company’s stock.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home dÃ©cor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target CafÃ©, Target Optical, Starbucks, and other food service offerings.
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