Ballentine Partners LLC Boosts Stake in Target Co. (NYSE:TGT)

Ballentine Partners LLC lifted its position in shares of Target Co. (NYSE:TGT) by 6.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,590 shares of the retailer’s stock after purchasing an additional 683 shares during the quarter. Ballentine Partners LLC’s holdings in Target were worth $1,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TGT. Triad Wealth Partners LLC bought a new stake in Target during the second quarter worth about $25,000. Slocum Gordon & Co LLP purchased a new position in shares of Target during the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC purchased a new position in shares of Target during the second quarter valued at approximately $31,000. Washington Trust Advisors Inc. boosted its position in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Wolff Wiese Magana LLC grew its stake in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.7 %

TGT opened at $151.16 on Friday. The stock has a market cap of $69.93 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm’s fifty day moving average is $153.24 and its 200 day moving average is $152.22. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86.

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 return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the previous year, the business earned $1.80 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 50.28%.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % 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. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 over the last quarter. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TGT shares. Roth Mkm boosted their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Stifel Nicolaus increased their price objective on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Monday, August 26th. Wells Fargo & Company raised their price target on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Bank of America lifted their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Target 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.