Atlas Brown Inc. lifted its holdings in Target Co. (NYSE:TGT – Get Rating) by 13.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,519 shares of the retailer’s stock after buying an additional 1,034 shares during the quarter. Atlas Brown Inc.’s holdings in Target were worth $1,203,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC boosted its position in Target by 8.0% during the 4th quarter. Mutual Advisors LLC now owns 9,966 shares of the retailer’s stock worth $2,307,000 after acquiring an additional 738 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Target by 9.0% during the 4th quarter. Blair William & Co. IL now owns 130,230 shares of the retailer’s stock worth $30,140,000 after purchasing an additional 10,794 shares in the last quarter. IMA Wealth Inc. raised its stake in shares of Target by 0.9% during the 4th quarter. IMA Wealth Inc. now owns 10,091 shares of the retailer’s stock worth $2,335,000 after purchasing an additional 89 shares in the last quarter. Navellier & Associates Inc. raised its stake in shares of Target by 18.3% during the 4th quarter. Navellier & Associates Inc. now owns 39,178 shares of the retailer’s stock worth $9,067,000 after purchasing an additional 6,063 shares in the last quarter. Finally, Jag Capital Management LLC raised its stake in shares of Target by 39.0% during the 4th quarter. Jag Capital Management LLC now owns 34,798 shares of the retailer’s stock worth $8,054,000 after purchasing an additional 9,764 shares in the last quarter. 77.42% of the stock is owned by institutional investors.
Target Trading Down 1.2 %
Target stock traded down $1.76 during mid-day trading on Friday, hitting $151.20. The company’s stock had a trading volume of 311,130 shares, compared to its average volume of 3,364,889. Target Co. has a one year low of $137.16 and a one year high of $268.98. The stock has a market cap of $69.59 billion, a PE ratio of 17.10, a P/E/G ratio of 1.99 and a beta of 1.02. The company has a 50 day moving average of $163.84 and a 200-day moving average of $182.03. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.14 and a current ratio of 0.82.
Target Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.86%. Target’s dividend payout ratio is 49.09%.
Insiders Place Their Bets
In related news, CAO Matthew A. Liegel sold 1,226 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the completion of the sale, the chief accounting officer now directly owns 2,812 shares in the company, valued at approximately $488,725.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Target news, CAO Matthew A. Liegel sold 1,226 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the sale, the chief accounting officer now directly owns 2,812 shares in the company, valued at $488,725.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John J. Mulligan sold 39,101 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on TGT shares. KeyCorp started coverage on Target in a research note on Wednesday, September 14th. They issued an “overweight” rating and a $200.00 price target on the stock. Morgan Stanley dropped their price target on Target from $255.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 8th. Cowen increased their price target on Target to $210.00 in a research note on Monday, August 22nd. Raymond James increased their price objective on Target from $190.00 to $200.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 18th. Finally, Tigress Financial lowered their price objective on Target from $320.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $193.67.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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