Eagle Asset Management Inc. Increases Holdings in Target Co. (NYSE:TGT)

Eagle Asset Management Inc. lifted its stake in Target Co. (NYSE:TGT) by 18.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 803,837 shares of the retailer’s stock after buying an additional 127,449 shares during the period. Eagle Asset Management Inc. owned approximately 0.17% of Target worth $120,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Financial Advocates Investment Management increased its stake in Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after purchasing an additional 67 shares during the period. Beacon Capital Management LLC raised its stake in Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares during the last quarter. Integral Investment Advisors Inc. lifted its position in Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares during the period. Trust Co. of Vermont grew its stake in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the last quarter. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Target by 9.7% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the retailer’s stock worth $119,000 after purchasing an additional 71 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of NYSE:TGT opened at $121.66 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The firm has a market capitalization of $56.05 billion, a PE ratio of 12.57, a P/E/G ratio of 2.03 and a beta of 1.24. The business has a 50-day moving average of $151.79 and a two-hundred day moving average of $149.92.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. During the same quarter in the prior year, the firm earned $2.10 earnings per share. Target’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Target Co. will post 9.55 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.68%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 46.28%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 over the last 90 days. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TGT shares. Guggenheim dropped their price objective on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group increased their price target on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a report on Monday, August 26th. Sanford C. Bernstein started coverage on Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price target on shares of Target in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

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.