Cullen Frost Bankers Inc. Has $10.04 Million Stake in Target Co. (NYSE:TGT)

Cullen Frost Bankers Inc. boosted its stake in shares of Target Co. (NYSE:TGT) by 3.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 70,501 shares of the retailer’s stock after buying an additional 2,595 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Target were worth $10,041,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TGT. Tower View Wealth Management LLC boosted its holdings in Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after acquiring an additional 106 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of Target in the 4th quarter worth approximately $29,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Target in the 4th quarter valued at $33,000. Friedenthal Financial acquired a new stake in shares of Target during the fourth quarter worth $45,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Target during the 4th quarter valued at about $49,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT stock traded down $0.82 during midday trading on Wednesday, hitting $159.59. The company’s stock had a trading volume of 2,574,589 shares, compared to its average volume of 3,675,110. The stock has a market cap of $73.83 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.48 and a beta of 1.17. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The stock’s 50-day moving average price is $166.79 and its 200 day moving average price is $145.90. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The company had revenue of $31.47 billion for 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 firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. On average, equities analysts forecast that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 49.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TGT shares. Gordon Haskett lifted their target price on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. BMO Capital Markets increased their target price on shares of Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. HSBC raised shares of Target from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $195.00 in a research note on Wednesday, March 6th. Royal Bank of Canada increased their price objective on shares of Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus boosted their target price on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus price target of $181.85.

Insiders Place Their Bets

In other news, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the transaction, the insider now owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christina Hennington sold 4,600 shares of Target stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $8,819,598 over the last ninety days. 0.23% of the stock is currently owned by insiders.

Target 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.