Linscomb & Williams Inc. acquired a new stake in shares of Target Co. (NYSE:TGT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,351 shares of the retailer’s stock, valued at approximately $219,000.
A number of other hedge funds also recently modified their holdings of the stock. Security National Bank of Sioux City Iowa IA boosted its position in Target by 0.8% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,341 shares of the retailer’s stock valued at $698,000 after purchasing an additional 102 shares in the last quarter. Cheviot Value Management LLC boosted its position in Target by 1.5% during the second quarter. Cheviot Value Management LLC now owns 8,483 shares of the retailer’s stock valued at $444,000 after purchasing an additional 126 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its position in Target by 0.7% during the second quarter. Nicholas Hoffman & Company LLC. now owns 18,329 shares of the retailer’s stock valued at $958,000 after purchasing an additional 130 shares in the last quarter. Rowland & Co. Investment Counsel ADV boosted its position in Target by 4.7% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock valued at $155,000 after purchasing an additional 132 shares in the last quarter. Finally, Security National Bank of SO Dak boosted its position in Target by 2.0% during the second quarter. Security National Bank of SO Dak now owns 10,333 shares of the retailer’s stock valued at $540,000 after purchasing an additional 207 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.
In other news, insider Robert M. Harrison sold 8,557 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the transaction, the insider now directly owns 13,288 shares in the company, valued at $1,019,721.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roxanne S. Austin sold 4,705 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,262 shares of company stock valued at $1,185,484. Company insiders own 0.20% of the company’s stock.
TGT has been the topic of a number of recent research reports. Zacks Investment Research raised Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective on the stock in a research report on Saturday, January 20th. Robert W. Baird reaffirmed a “hold” rating and set a $70.00 price objective on shares of Target in a research report on Wednesday, January 3rd. MKM Partners set a $77.00 price objective on Target and gave the company a “buy” rating in a research report on Thursday, December 14th. Morgan Stanley dropped their price objective on Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, November 16th. Finally, Wells Fargo & Co initiated coverage on Target in a research report on Friday, November 3rd. They set a “market perform” rating and a $62.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.88.
Shares of Target Co. (TGT) opened at $72.95 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $39,653.63, a PE ratio of 15.20, a price-to-earnings-growth ratio of 3.45 and a beta of 0.76. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70.
Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.04 earnings per share. sell-side analysts forecast that Target Co. will post 4.72 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s payout ratio is 51.88%.
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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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