Dividend Assets Capital LLC Makes New $1.41 Million Investment in Target Co. (NYSE:TGT)


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Dividend Assets Capital LLC purchased a new position in Target Co. (NYSE:TGT) in the first quarter, Holdings Channel reports. The institutional investor purchased 7,139 shares of the retailer’s stock, valued at approximately $1,414,000.

A number of other large investors have also bought and sold shares of TGT. Clark Financial Advisors bought a new stake in Target during the fourth quarter worth about $27,000. Tortoise Investment Management LLC purchased a new position in shares of Target in the fourth quarter worth about $27,000. IronBridge Private Wealth LLC purchased a new position in shares of Target in the fourth quarter worth about $28,000. West Financial Advisors LLC purchased a new position in Target during the 4th quarter valued at about $30,000. Finally, Ellis Investment Partners LLC grew its holdings in shares of Target by 61.7% during the 4th quarter. Ellis Investment Partners LLC now owns 173 shares of the retailer’s stock worth $31,000 after acquiring an additional 66 shares during the period. 79.17% of the stock is owned by institutional investors.

In other Target news, insider Christina Hennington sold 1,852 shares of the stock in a transaction on Friday, March 19th. The stock was sold at an average price of $183.00, for a total value of $338,916.00. Following the completion of the sale, the insider now owns 25,249 shares in the company, valued at approximately $4,620,567. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Edward Mcnamara sold 31,423 shares of the stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $204.32, for a total value of $6,420,347.36. Following the completion of the sale, the insider now owns 139,768 shares of the company’s stock, valued at approximately $28,557,397.76. The disclosure for this sale can be found here. Insiders sold a total of 39,510 shares of company stock valued at $8,002,521 in the last quarter. 0.52% of the stock is currently owned by company insiders.

A number of research firms have weighed in on TGT. Stifel Nicolaus upped their target price on Target from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. Telsey Advisory Group reduced their target price on Target from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, March 3rd. DA Davidson dropped their price target on Target from $229.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, March 9th. Cowen boosted their price target on Target from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 14th. Finally, Zacks Investment Research cut Target from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Friday, March 5th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Target presently has an average rating of “Buy” and an average price target of $186.35.

TGT traded down $0.41 during mid-day trading on Tuesday, reaching $210.87. 21,102 shares of the company traded hands, compared to its average volume of 3,694,515. The stock has a market capitalization of $104.92 billion, a P/E ratio of 27.98, a P/E/G ratio of 2.64 and a beta of 0.97. The company has a quick ratio of 0.39, a current ratio of 1.05 and a debt-to-equity ratio of 0.94. The company’s fifty day moving average price is $199.83 and its 200-day moving average price is $182.75. Target Co. has a 52-week low of $107.63 and a 52-week high of $212.82.

Target (NYSE:TGT) last posted its quarterly earnings data on Monday, March 1st. The retailer reported $2.67 EPS for the quarter, topping the consensus estimate of $2.54 by $0.13. The firm had revenue of $28 billion during the quarter, compared to analyst estimates of $27.42 billion. Target had a return on equity of 34.94% and a net margin of 4.31%. Target’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. As a group, sell-side analysts forecast that Target Co. will post 9.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, May 18th. This represents a $2.72 annualized dividend and a dividend yield of 1.29%. Target’s dividend payout ratio (DPR) is 42.57%.

About Target

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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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