Eley Financial Management Inc Increases Position in Target Co. (NYSE:TGT)

Eley Financial Management Inc lifted its position in shares of Target Co. (NYSE:TGT) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,421 shares of the retailer’s stock after acquiring an additional 163 shares during the quarter. Eley Financial Management Inc’s holdings in Target were worth $1,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Tower View Wealth Management LLC grew its position in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after buying an additional 106 shares during the period. Rakuten Securities Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $29,000. Impact Partnership Wealth LLC lifted its stake in shares of Target by 106.6% during the third quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock valued at $45,000 after buying an additional 209 shares during the period. Friedenthal Financial purchased a new position in shares of Target during the fourth quarter valued at approximately $45,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $49,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of TGT traded up $1.37 during mid-day trading on Friday, hitting $165.81. The company’s stock had a trading volume of 738,763 shares, compared to its average volume of 3,678,304. The firm has a 50-day moving average price of $165.21 and a 200 day moving average price of $142.61. The stock has a market capitalization of $76.55 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.55 and a beta of 1.14. 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 fifty-two week low of $102.93 and a fifty-two week high of $181.86.

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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. On average, research analysts predict that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is currently 49.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TGT. UBS Group reissued a “buy” rating and set a $174.00 price objective on shares of Target in a research note on Tuesday, March 5th. DA Davidson increased their price target on shares of Target from $167.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Bank of America increased their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Stifel Nicolaus increased their price objective on shares of Target from $153.00 to $177.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Finally, Telsey Advisory Group raised their price target on shares of Target from $160.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.85.

Insider Transactions at Target

In other news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the firm’s 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 of the company’s stock, valued at $5,038,481.35. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock valued at $8,819,598 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Target Company 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.