Members Capital Advisors Inc. lifted its position in shares of Target Co. (NYSE:TGT – Get Rating) by 41,216.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,395 shares of the retailer’s stock after buying an additional 12,365 shares during the period. Members Capital Advisors Inc.’s holdings in Target were worth $1,847,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of TGT. Global Wealth Strategies & Associates bought a new stake in shares of Target in the 4th quarter worth approximately $27,000. Bell Investment Advisors Inc grew its position in shares of Target by 122.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 191 shares of the retailer’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Annapolis Financial Services LLC grew its position in shares of Target by 96.2% in the 3rd quarter. Annapolis Financial Services LLC now owns 206 shares of the retailer’s stock worth $30,000 after buying an additional 101 shares during the last quarter. MADDEN SECURITIES Corp bought a new stake in shares of Target in the 4th quarter worth approximately $30,000. Finally, Glassy Mountain Advisors Inc. bought a new stake in shares of Target in the 4th quarter worth approximately $32,000. 78.86% of the stock is owned by hedge funds and other institutional investors.
Target Trading Up 1.5 %
NYSE:TGT traded up $2.33 during midday trading on Thursday, hitting $160.44. The stock had a trading volume of 558,729 shares, compared to its average volume of 3,258,278. Target Co. has a one year low of $137.16 and a one year high of $254.87. The company has a market capitalization of $73.86 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.29 and a beta of 1.05. The stock has a 50-day moving average of $166.07 and a 200 day moving average of $160.30. The company has a quick ratio of 0.22, a current ratio of 0.92 and a debt-to-equity ratio of 1.43.
Target (NYSE:TGT – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The retailer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.49. Target had a return on equity of 25.63% and a net margin of 2.55%. The company had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $30.73 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. Target’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Target Co. will post 8.39 EPS for the current year.
Target Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be paid a dividend of $1.08 per share. The ex-dividend date is Tuesday, May 16th. This represents a $4.32 annualized dividend and a yield of 2.69%. Target’s dividend payout ratio (DPR) is 72.24%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Raymond James lifted their price target on Target from $185.00 to $195.00 and gave the company a “strong-buy” rating in a research report on Thursday, March 2nd. Piper Sandler lifted their price objective on Target from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Credit Suisse Group lifted their price objective on Target from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Gordon Haskett cut Target from a “buy” rating to a “hold” rating and set a $132.00 price objective for the company. in a research note on Wednesday, December 21st. Finally, Cowen lowered their price objective on Target from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, February 15th. Thirteen investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.69.
Insider Buying and Selling
In related news, insider Brian C. Cornell sold 35,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the transaction, the insider now directly owns 191,272 shares in the company, valued at approximately $30,408,422.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.29% of the stock is owned by company insiders.
Target Company Profile
Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.