Transcendent Capital Group LLC Acquires Shares of 1,491 Target Co. (NYSE:TGT)

Transcendent Capital Group LLC acquired a new stake in shares of Target Co. (NYSE:TGT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,491 shares of the retailer’s stock, valued at approximately $212,000.

A number of other institutional investors also recently modified their holdings of TGT. Rakuten Securities Inc. bought a new position in Target in the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new stake in Target during the 4th quarter worth $29,000. Scarborough Advisors LLC acquired a new stake in Target during the 4th quarter worth $29,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Target during the 4th quarter worth $33,000. Finally, Voisard Asset Management Group Inc. acquired a new stake in Target during the 4th quarter worth $39,000. Institutional investors own 79.73% of the company’s stock.

Insider Activity

In other news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

TGT has been the subject of a number of analyst reports. UBS Group lowered their target price on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. The Goldman Sachs Group boosted their price target on shares of Target from $176.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Jefferies Financial Group boosted their price target on shares of Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. BNP Paribas initiated coverage on shares of Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target for the company. Finally, Robert W. Baird reissued an “outperform” rating and issued a $190.00 price target on shares of Target in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and an average price target of $178.11.

Target Price Performance

NYSE:TGT traded down $3.52 on Friday, hitting $141.16. The company had a trading volume of 5,019,720 shares, compared to its average volume of 4,917,518. The stock has a market capitalization of $65.31 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.33 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $157.37 and a two-hundred day moving average of $152.42. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. On average, research analysts anticipate that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 3.17%. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is presently 49.38%.

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.