Rikoon Group LLC Invests $221,000 in Target Co. (NYSE:TGT)

Rikoon Group LLC acquired a new position in shares of Target Co. (NYSE:TGT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,063 shares of the retailer’s stock, valued at approximately $221,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Martin Investment Management LLC boosted its holdings in shares of Target by 9.7% during the 3rd quarter. Martin Investment Management LLC now owns 132,885 shares of the retailer’s stock worth $14,207,000 after buying an additional 11,739 shares during the period. Private Ocean LLC boosted its holdings in shares of Target by 22.2% during the 3rd quarter. Private Ocean LLC now owns 794 shares of the retailer’s stock worth $85,000 after buying an additional 144 shares during the period. Bourgeon Capital Management LLC bought a new stake in shares of Target during the 3rd quarter worth about $118,000. Alps Advisors Inc. bought a new stake in shares of Target during the 3rd quarter worth about $1,327,000. Finally, CNB Bank boosted its holdings in shares of Target by 151.7% during the 3rd quarter. CNB Bank now owns 3,795 shares of the retailer’s stock worth $406,000 after buying an additional 2,287 shares during the period. Institutional investors own 81.92% of the company’s stock.

Several analysts recently commented on the stock. Deutsche Bank raised shares of Target from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $99.00 in a report on Monday, August 5th. ValuEngine downgraded shares of Target from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen boosted their price objective on shares of Target from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. KeyCorp boosted their price objective on shares of Target from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Credit Suisse Group set a $112.00 price objective on shares of Target and gave the company a “buy” rating in a report on Monday, September 23rd. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $107.70.

In related news, insider Don H. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the transaction, the insider now directly owns 39,890 shares in the company, valued at approximately $4,387,900. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cathy R. Smith sold 8,412 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $104.40, for a total transaction of $878,212.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,478 shares of company stock valued at $8,915,363. 0.24% of the stock is owned by corporate insiders.

Shares of Target stock traded down $0.44 on Friday, reaching $110.15. 2,779,112 shares of the stock were exchanged, compared to its average volume of 5,086,021. The firm’s 50 day moving average is $109.29 and its 200-day moving average is $93.06. Target Co. has a one year low of $60.15 and a one year high of $114.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84. The firm has a market cap of $56.23 billion, a PE ratio of 20.44, a P/E/G ratio of 2.53 and a beta of 0.54.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The company had revenue of $18.42 billion during the quarter, compared to the consensus estimate of $18.32 billion. During the same quarter in the prior year, the firm posted $1.47 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Target Co. will post 6.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Tuesday, November 19th. Target’s dividend payout ratio is 48.98%.

Target declared that its board has initiated a share buyback program on Thursday, September 19th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the retailer to repurchase up to 9.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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