High Note Wealth LLC Purchases Shares of 1,467 Target Co. (NYSE:TGT)

High Note Wealth LLC purchased a new stake in Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,467 shares of the retailer’s stock, valued at approximately $209,000.

Other hedge funds have also recently bought and sold shares of the company. Columbia Trust Co 01012016 lifted its holdings in Target by 17.9% during the 4th quarter. Columbia Trust Co 01012016 now owns 6,287 shares of the retailer’s stock valued at $895,000 after purchasing an additional 955 shares during the last quarter. Monarch Capital Management Inc. lifted its holdings in Target by 5.9% during the 4th quarter. Monarch Capital Management Inc. now owns 14,014 shares of the retailer’s stock valued at $1,996,000 after purchasing an additional 784 shares during the last quarter. Canvas Wealth Advisors LLC bought a new position in Target during the 4th quarter valued at about $256,000. Viking Fund Management LLC lifted its holdings in Target by 5.4% during the 4th quarter. Viking Fund Management LLC now owns 59,000 shares of the retailer’s stock valued at $8,403,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Trust Co of the South bought a new position in Target during the 4th quarter valued at about $505,000. 79.73% of the stock is owned by institutional investors.

Target Trading Up 1.2 %

Shares of Target stock opened at $174.67 on Thursday. The company has a market capitalization of $80.64 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.62 and a beta of 1.13. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a 12-month low of $102.93 and a 12-month high of $175.53. The firm’s 50-day moving average price is $153.23 and its two-hundred day moving average price is $134.36.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. On average, analysts forecast that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.52%. Target’s payout ratio is currently 49.27%.

Insider Activity

In other news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,600 shares of company stock worth $8,819,598. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. HSBC raised shares of Target from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Tigress Financial raised their price objective on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Gordon Haskett upgraded shares of Target from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Wednesday, February 7th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.73.

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.