High Note Wealth LLC Makes New $209,000 Investment in Target Co. (NYSE:TGT)

High Note Wealth LLC bought a new position in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,467 shares of the retailer’s stock, valued at approximately $209,000.

Other large investors have also recently added to or reduced their stakes in the company. Columbia Trust Co 01012016 boosted its stake in shares of Target by 17.9% during the 4th quarter. Columbia Trust Co 01012016 now owns 6,287 shares of the retailer’s stock worth $895,000 after buying an additional 955 shares during the last quarter. Monarch Capital Management Inc. grew its holdings in Target by 5.9% during the fourth quarter. Monarch Capital Management Inc. now owns 14,014 shares of the retailer’s stock worth $1,996,000 after purchasing an additional 784 shares during the period. Canvas Wealth Advisors LLC bought a new position in Target during the fourth quarter worth about $256,000. Viking Fund Management LLC grew its holdings in Target by 5.4% during the fourth quarter. Viking Fund Management LLC now owns 59,000 shares of the retailer’s stock worth $8,403,000 after purchasing an additional 3,000 shares during the period. Finally, Trust Co of the South bought a new position in Target during the fourth quarter worth about $505,000. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,600 shares of company stock worth $8,819,598. Insiders own 0.23% of the company’s stock.

Target Price Performance

TGT stock opened at $174.67 on Thursday. The stock has a market capitalization of $80.64 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. The company’s 50-day moving average is $153.23 and its 200-day moving average is $134.36. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a 1 year low of $102.93 and a 1 year high of $175.53.

Target (NYSE:TGT) last released 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 company had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. Equities research analysts expect that Target Co. will post 9.39 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.52%. Target’s dividend payout ratio (DPR) is 49.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TGT. Evercore ISI boosted their price objective on Target from $180.00 to $185.00 and gave the stock an “in-line” rating in a report on Tuesday. Gordon Haskett upgraded Target from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Wednesday, February 7th. Citigroup boosted their price target on Target from $142.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Wells Fargo & Company boosted their price target on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, TheStreet upgraded Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus price target of $179.73.

About Target

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.