Advisor Group Inc. Raises Position in Target Co. (TGT)

Advisor Group Inc. raised its holdings in shares of Target Co. (NYSE:TGT) by 26.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 141,369 shares of the retailer’s stock after purchasing an additional 29,345 shares during the quarter. Advisor Group Inc.’s holdings in Target were worth $9,226,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TGT. Heritage Trust Co boosted its stake in Target by 129.7% in the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after purchasing an additional 1,000 shares during the period. SevenBridge Financial Group LLC boosted its stake in Target by 2,200.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after purchasing an additional 1,826 shares during the period. Security Asset Management acquired a new position in Target in the 4th quarter worth approximately $115,000. First Mercantile Trust Co. acquired a new position in Target in the 4th quarter worth approximately $124,000. Finally, Independence Bank of Kentucky acquired a new position in Target in the 4th quarter worth approximately $147,000. Hedge funds and other institutional investors own 85.91% of the company’s stock.

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A number of research firms recently commented on TGT. Zacks Investment Research raised shares of Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a research note on Saturday, January 20th. Vetr lowered shares of Target from a “hold” rating to a “sell” rating and set a $73.66 price objective for the company. in a research note on Tuesday, February 27th. Citigroup reaffirmed a “neutral” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Target in a research note on Friday, February 16th. Credit Suisse Group began coverage on shares of Target in a research note on Monday, February 26th. They set an “outperform” rating and a $86.00 target price for the company. Finally, Susquehanna Bancshares set a $95.00 target price on shares of Target and gave the company a “buy” rating in a research note on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Target currently has a consensus rating of “Hold” and an average target price of $73.97.

In related news, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total value of $656,664.18. Following the transaction, the insider now owns 13,288 shares in the company, valued at approximately $1,019,721.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares in the company, valued at approximately $1,320,020.48. The disclosure for this sale can be found here. Insiders have sold a total of 16,262 shares of company stock worth $1,185,484 in the last 90 days. 0.25% of the stock is owned by insiders.

Target Co. (NYSE TGT) opened at $70.49 on Friday. The firm has a market cap of $38,320.00, a price-to-earnings ratio of 15.06, a PEG ratio of 3.36 and a beta of 0.71. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.95. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The business had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 EPS. sell-side analysts forecast that Target Co. will post 5.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.52%. Target’s dividend payout ratio is currently 52.99%.

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Target Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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