Gibraltar Capital Management Inc. Purchases 1,999 Shares of Target Co. (NYSE:TGT)

Gibraltar Capital Management Inc. boosted its position in shares of Target Co. (NYSE:TGT) by 45.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,441 shares of the retailer’s stock after purchasing an additional 1,999 shares during the period. Gibraltar Capital Management Inc.’s holdings in Target were worth $917,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new position in Target during the 4th quarter valued at about $29,000. Tower View Wealth Management LLC raised its stake in shares of Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Friedenthal Financial bought a new position in shares of Target in the fourth quarter worth about $45,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Target in the fourth quarter worth about $49,000. Finally, MV Capital Management Inc. raised its stake in shares of Target by 200.8% in the fourth quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock worth $51,000 after acquiring an additional 241 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Trading Down 1.7 %

Target stock traded down $2.76 during mid-day trading on Tuesday, hitting $160.97. 3,534,148 shares of the stock were exchanged, compared to its average volume of 3,681,370. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The firm’s fifty day simple moving average is $166.02 and its two-hundred day simple moving average is $144.21. The stock has a market capitalization of $74.32 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.54 and a beta of 1.14.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping the consensus estimate of $2.41 by $0.57. The company had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. Analysts forecast that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 49.27%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Jefferies Financial Group boosted their price objective on shares of Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. Oppenheimer boosted their price objective on shares of Target from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Tigress Financial boosted their price objective on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and a consensus target price of $181.85.

Insider Activity at Target

In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the sale, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is owned by company insiders.

Target Company Profile

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.