Romano Brothers AND Company Has $2.99 Million Stake in Target Co. (NYSE:TGT)

Romano Brothers AND Company reduced its stake in shares of Target Co. (NYSE:TGT) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,180 shares of the retailer’s stock after selling 995 shares during the period. Romano Brothers AND Company’s holdings in Target were worth $2,989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Triad Wealth Partners LLC bought a new position in shares of Target during the second quarter worth about $25,000. Slocum Gordon & Co LLP bought a new position in Target during the second quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Target in the 2nd quarter valued at about $31,000. Washington Trust Advisors Inc. grew its stake in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the period. Finally, Wolff Wiese Magana LLC grew its stake in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $180.00 price target on shares of Target in a report on Wednesday, August 21st. UBS Group increased their target price on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Royal Bank of Canada lifted their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Monday, August 26th. Finally, Citigroup boosted their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.47.

Target Price Performance

TGT opened at $148.04 on Thursday. The company has a market capitalization of $68.49 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.99 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $153.07 and a 200-day moving average price of $152.23. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the previous year, the firm posted $1.80 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts expect that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.03%. Target’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

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.