Keel Point LLC Raises Stock Holdings in Target Co. (NYSE:TGT)

Keel Point LLC raised its stake in shares of Target Co. (NYSE:TGT) by 31.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,764 shares of the retailer’s stock after acquiring an additional 662 shares during the period. Keel Point LLC’s holdings in Target were worth $394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tower View Wealth Management LLC raised its position in Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after purchasing an additional 106 shares during the period. First Capital Advisors Group LLC. acquired a new stake in shares of Target in the second quarter valued at $31,000. Penserra Capital Management LLC purchased a new stake in shares of Target in the 4th quarter valued at $35,000. Friedenthal Financial acquired a new position in Target during the 4th quarter worth about $45,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Target during the 4th quarter valued at about $49,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In other Target news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares in the company, valued at approximately $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $8,819,598 in the last 90 days. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on TGT shares. Barclays boosted their price target on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Oppenheimer lifted their target price on Target from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, February 26th. DA Davidson increased their price target on Target from $167.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. TheStreet raised Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Finally, Morgan Stanley upped their target price on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.85.

Target Price Performance

Shares of NYSE TGT opened at $163.31 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. Target Co. has a one year low of $102.93 and a one year high of $181.86. The company’s fifty day moving average is $162.51 and its two-hundred day moving average is $140.17. The firm has a market capitalization of $75.40 billion, a P/E ratio of 18.29, a PEG ratio of 1.55 and a beta of 1.14.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The company had revenue of $31.47 billion during 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 company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.89 EPS. Analysts forecast that Target Co. will post 9.39 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio is currently 49.27%.

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.