Pennsylvania Trust Co lowered its position in shares of Target Co. (NYSE:TGT) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,567 shares of the retailer’s stock after selling 93 shares during the quarter. Pennsylvania Trust Co’s holdings in Target were worth $2,509,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Kanawha Capital Management LLC boosted its stake in shares of Target by 1.9% during the second quarter. Kanawha Capital Management LLC now owns 112,177 shares of the retailer’s stock valued at $9,716,000 after purchasing an additional 2,085 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of Target by 13.3% in the second quarter. Natixis Advisors L.P. now owns 62,841 shares of the retailer’s stock worth $5,443,000 after acquiring an additional 7,369 shares during the period. IHT Wealth Management LLC acquired a new position in Target in the second quarter valued at approximately $272,000. Pictet Asset Management Ltd. lifted its stake in Target by 2.0% in the second quarter. Pictet Asset Management Ltd. now owns 634,611 shares of the retailer’s stock valued at $54,964,000 after buying an additional 12,707 shares during the period. Finally, MML Investors Services LLC lifted its stake in Target by 43.0% in the second quarter. MML Investors Services LLC now owns 57,214 shares of the retailer’s stock valued at $4,955,000 after buying an additional 17,197 shares during the period. 76.89% of the stock is owned by institutional investors.
Shares of TGT opened at $116.35 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.83 and a quick ratio of 0.15. The firm has a market capitalization of $63.47 billion, a P/E ratio of 21.59, a PEG ratio of 2.60 and a beta of 0.56. Target Co. has a one year low of $67.17 and a one year high of $130.24. The business has a fifty day moving average of $126.16 and a 200 day moving average of $107.55.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 19th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.64 annualized dividend and a dividend yield of 2.27%. Target’s dividend payout ratio (DPR) is 48.98%.
Target declared that its Board of Directors has approved a share repurchase program on Thursday, September 19th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the retailer to buy up to 9.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities research analysts have recently commented on the company. Guggenheim restated a “hold” rating on shares of Target in a report on Wednesday. Buckingham Research restated a “buy” rating and set a $145.00 price objective (up previously from $131.00) on shares of Target in a report on Thursday, November 21st. ValuEngine cut Target from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Evercore ISI began coverage on Target in a research note on Wednesday, November 20th. They issued a “hold” rating for the company. Finally, Raymond James began coverage on Target in a research note on Monday, October 7th. They issued a “strong-buy” rating and a $130.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $117.19.
In related news, insider Stephanie A. Lundquist sold 6,630 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $127.00, for a total transaction of $842,010.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Don H. Liu sold 2,274 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $122.20, for a total transaction of $277,882.80. Following the transaction, the insider now owns 37,616 shares of the company’s stock, valued at approximately $4,596,675.20. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
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.
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