Target Co. (NYSE:TGT) Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its stake in Target Co. (NYSE:TGT) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,878 shares of the retailer’s stock after purchasing an additional 888 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Target were worth $5,822,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised its stake in Target by 23.6% during the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after buying an additional 122,706 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after acquiring an additional 6,690 shares in the last quarter. Janney Capital Management LLC bought a new position in Target during the first quarter worth $13,958,000. Van ECK Associates Corp lifted its stake in Target by 17.3% during the first quarter. Van ECK Associates Corp now owns 55,392 shares of the retailer’s stock worth $9,816,000 after purchasing an additional 8,185 shares during the last quarter. Finally, TAP Consulting LLC acquired a new position in Target in the third quarter worth $2,403,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT opened at $148.50 on Thursday. Target Co. has a 1 year low of $105.23 and a 1 year high of $181.86. The business’s fifty day moving average is $153.33 and its two-hundred day moving average is $151.51. The stock has a market capitalization of $68.41 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same period in the previous year, the firm earned $1.80 earnings per share. Target’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts forecast that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 46.28%.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 over the last 90 days. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TGT shares. Citigroup raised their price target on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. StockNews.com cut shares of Target from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Sanford C. Bernstein began coverage on Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price for the company. Stifel Nicolaus increased their price target on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Finally, UBS Group boosted their price objective on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.47.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.