Target Co. (NYSE:TGT) Position Boosted by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC increased its holdings in Target Co. (NYSE:TGT) by 19.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,804 shares of the retailer’s stock after purchasing an additional 2,557 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Target were worth $2,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TGT. Norden Group LLC boosted its position in Target by 17.2% during the 1st quarter. Norden Group LLC now owns 2,229 shares of the retailer’s stock worth $395,000 after acquiring an additional 327 shares during the period. Rehmann Capital Advisory Group grew its position in Target by 3.5% in the first quarter. Rehmann Capital Advisory Group now owns 2,143 shares of the retailer’s stock worth $380,000 after acquiring an additional 73 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Target during the 1st quarter worth $238,000. Catalina Capital Group LLC acquired a new position in shares of Target during the 1st quarter worth $206,000. Finally, Csenge Advisory Group bought a new position in shares of Target during the 1st quarter valued at $248,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Down 0.6 %

Shares of TGT opened at $149.99 on Tuesday. The company has a market capitalization of $69.10 billion, a P/E ratio of 15.49, a PEG ratio of 1.95 and a beta of 1.24. Target Co. has a one year low of $105.23 and a one year high of $181.86. The business’s 50 day simple moving average is $152.86 and its 200-day simple moving average is $151.11. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. As a group, sell-side analysts predict that Target Co. will post 9.54 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.99%. Target’s dividend payout ratio (DPR) is currently 46.28%.

Analyst Upgrades and Downgrades

Several research firms have commented on TGT. Bank of America increased their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm increased their price objective on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Citigroup boosted their target price on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.47.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

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.