Pegasus Partners Ltd. Boosts Stake in Target Co. (NYSE:TGT)

Pegasus Partners Ltd. lifted its position in Target Co. (NYSE:TGT) by 21.8% during the third quarter, Holdings Channel reports. The institutional investor owned 2,887 shares of the retailer’s stock after buying an additional 517 shares during the quarter. Pegasus Partners Ltd.’s holdings in Target were worth $450,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TGT. Triad Wealth Partners LLC purchased a new stake in Target in the second quarter valued at approximately $25,000. Slocum Gordon & Co LLP purchased a new position in shares of Target during the 2nd quarter valued at approximately $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of Target in the second quarter valued at about $31,000. Washington Trust Advisors Inc. increased its stake in Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its position in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on TGT. Daiwa America upgraded Target to a “strong-buy” rating in a research report on Monday, August 26th. Royal Bank of Canada boosted their target price on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Monday, August 26th. Melius Research assumed coverage on Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Target Trading Down 0.7 %

Target stock opened at $149.79 on Friday. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm has a market capitalization of $69.00 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a 50 day moving average price of $152.39 and a 200 day moving average price of $150.84.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 earnings per share. Research analysts forecast that Target Co. will post 9.54 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.99%. Target’s dividend payout ratio is 46.28%.

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.