Keene & Associates Inc. Takes $614,000 Position in Target Co. (NYSE:TGT)

Keene & Associates Inc. bought a new position in shares of Target Co. (NYSE:TGT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,937 shares of the retailer’s stock, valued at approximately $614,000.

Other large investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in shares of Target in the 2nd quarter valued at approximately $25,000. Washington Trust Advisors Inc. increased its holdings in Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Slocum Gordon & Co LLP acquired a new stake in Target in the second quarter valued at $28,000. Retirement Group LLC raised its stake in Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after buying an additional 91 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Target during the 2nd quarter worth about $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Target stock opened at $148.04 on Thursday. The company has a market cap of $68.49 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Target Co. has a one year low of $105.23 and a one year high of $181.86. The business has a fifty day moving average of $153.07 and a two-hundred day moving average of $152.23. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter last year, the business earned $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts predict that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.03%. Target’s dividend payout ratio is presently 50.28%.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated 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 $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Jefferies Financial Group raised their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price objective on shares of Target in a research note on Thursday, September 19th. Roth Mkm lifted their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. upped their target price on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.47.

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.