Norden Group LLC Buys Shares of 1,902 Target Co. (NYSE:TGT)

Norden Group LLC purchased a new position in shares of Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,902 shares of the retailer’s stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tower View Wealth Management LLC boosted its holdings 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. Rakuten Securities Inc. acquired a new position in shares of Target during the fourth quarter worth about $29,000. Friedenthal Financial acquired a new stake in Target in the fourth quarter valued at approximately $45,000. McGlone Suttner Wealth Management Inc. purchased a new position in Target in the fourth quarter worth approximately $49,000. Finally, MV Capital Management Inc. grew its holdings in Target by 200.8% during the 4th quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock worth $51,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of Target stock in a transaction on 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 approximately $6,576,658.56. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 in the last ninety days. Insiders own 0.23% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $156.44 on Thursday. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a market capitalization of $72.37 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $166.17 and a two-hundred day moving average price of $144.30.

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

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 49.27%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TGT. UBS Group reiterated a “buy” rating and set a $174.00 target price on shares of Target in a research note on Tuesday, March 5th. Citigroup boosted their price target on shares of Target from $142.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Royal Bank of Canada boosted their target price on Target from $157.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. The Goldman Sachs Group raised their price target on Target from $176.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, HSBC raised Target from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Target currently has an average rating of “Moderate Buy” and an average target price of $181.85.

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.