Fagan Associates Inc. Has $1.14 Million Position in Target Co. (NYSE:TGT)

Fagan Associates Inc. increased its holdings in shares of Target Co. (NYSE:TGT) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,211 shares of the retailer’s stock after purchasing an additional 1,065 shares during the period. Fagan Associates Inc.’s holdings in Target were worth $1,144,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Altman Advisors Inc. lifted its stake in Target by 0.6% in the 2nd quarter. Altman Advisors Inc. now owns 30,656 shares of the retailer’s stock valued at $2,655,000 after acquiring an additional 189 shares in the last quarter. Community Bank & Trust Waco Texas lifted its stake in Target by 8.7% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 8,522 shares of the retailer’s stock valued at $738,000 after acquiring an additional 681 shares in the last quarter. Diversified Trust Co lifted its stake in Target by 189.5% in the 2nd quarter. Diversified Trust Co now owns 18,372 shares of the retailer’s stock valued at $1,591,000 after acquiring an additional 12,025 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its stake in Target by 9.2% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 13,693 shares of the retailer’s stock valued at $1,186,000 after acquiring an additional 1,158 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. lifted its stake in Target by 9.1% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 11,340 shares of the retailer’s stock valued at $982,000 after acquiring an additional 950 shares in the last quarter. Institutional investors and hedge funds own 82.12% of the company’s stock.

TGT has been the topic of several research reports. Bank of America restated a “buy” rating and issued a $125.00 target price (up previously from $105.00) on shares of Target in a research note on Thursday. Morgan Stanley boosted their target price on Target from $76.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday. Barclays set a $115.00 price target on Target and gave the stock a “buy” rating in a research report on Wednesday. Citigroup raised Target from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $130.00 in a research report on Thursday. Finally, Goldman Sachs Group initiated coverage on Target in a research report on Thursday, July 11th. They set a “buy” rating and a $102.00 price target on the stock. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $101.21.

In related news, Director Roxanne S. Austin sold 4,163 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $89.00, for a total value of $370,507.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Edward Mcnamara sold 11,891 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The disclosure for this sale can be found here. Insiders have sold a total of 24,421 shares of company stock worth $2,162,689 over the last three months. 0.24% of the stock is owned by insiders.

TGT stock opened at $106.32 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.19 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $44.36 billion, a PE ratio of 19.73, a PEG ratio of 2.07 and a beta of 0.61. Target Co. has a 1-year low of $60.15 and a 1-year high of $106.52. The business’s 50 day simple moving average is $86.54 and its 200 day simple moving average is $80.74.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The business had revenue of $18.42 billion for the quarter, compared to analyst estimates of $18.32 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 EPS. As a group, sell-side analysts predict that Target Co. will post 5.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. The ex-dividend date is Tuesday, August 20th. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.48%. Target’s payout ratio is presently 48.98%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

Read More: Average Daily Trade Volume – ADTV

Institutional Ownership by Quarter for Target (NYSE:TGT)

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