Convergence Investment Partners LLC Purchases New Stake in Target Co. (NYSE:TGT)

Convergence Investment Partners LLC purchased a new stake in Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,601 shares of the retailer’s stock, valued at approximately $228,000.

Several other hedge funds have also added to or reduced their stakes in TGT. United Services Automobile Association boosted its holdings in Target by 2.9% during the third quarter. United Services Automobile Association now owns 44,232 shares of the retailer’s stock worth $4,891,000 after buying an additional 1,239 shares during the last quarter. RFG Advisory LLC bought a new position in Target during the fourth quarter worth about $605,000. Tower View Wealth Management LLC boosted its holdings 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 last quarter. Nordea Investment Management AB boosted its holdings in Target by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock worth $73,819,000 after buying an additional 24,066 shares during the last quarter. Finally, Asio Capital LLC boosted its holdings in Target by 109.9% during the fourth quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock worth $3,883,000 after buying an additional 14,274 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TGT shares. Morgan Stanley raised their target price on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Tigress Financial raised their target price on Target from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Guggenheim raised their price target on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Roth Mkm raised their price target on Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, BMO Capital Markets raised their price target on Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Insider Transactions at Target

In other news, insider Melissa K. Kremer sold 3,000 shares of Target 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 completion of the transaction, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Melissa K. Kremer sold 3,000 shares of Target 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 completion of the transaction, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Monday, March 11th. The stock was 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 of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. In the last three months, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by company insiders.

Target Stock Up 0.2 %

NYSE:TGT opened at $164.74 on Monday. The firm has a market capitalization of $76.06 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock’s 50 day moving average price is $165.52 and its two-hundred day moving average price is $143.49. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. Equities research analysts expect that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.67%. Target’s dividend payout ratio is currently 49.27%.

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.