Main Street Research LLC purchased a new stake in Target Co. (NYSE:TGT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 150,085 shares of the retailer’s stock, valued at approximately $16,046,000. Target makes up about 3.0% of Main Street Research LLC’s holdings, making the stock its 8th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in TGT. First Citizens Bank & Trust Co. increased its holdings in Target by 0.3% during the second quarter. First Citizens Bank & Trust Co. now owns 38,132 shares of the retailer’s stock worth $3,302,000 after buying an additional 115 shares during the last quarter. Weiss Asset Management LP increased its holdings in Target by 4.6% during the second quarter. Weiss Asset Management LP now owns 2,788 shares of the retailer’s stock worth $241,000 after buying an additional 123 shares during the last quarter. Smith Shellnut Wilson LLC ADV increased its holdings in Target by 2.8% during the second quarter. Smith Shellnut Wilson LLC ADV now owns 4,522 shares of the retailer’s stock worth $392,000 after buying an additional 125 shares during the last quarter. First Command Financial Services Inc. increased its holdings in Target by 13.9% during the third quarter. First Command Financial Services Inc. now owns 1,023 shares of the retailer’s stock worth $109,000 after buying an additional 125 shares during the last quarter. Finally, Copperwynd Financial LLC increased its holdings in Target by 2.0% during the second quarter. Copperwynd Financial LLC now owns 6,563 shares of the retailer’s stock worth $568,000 after buying an additional 126 shares during the last quarter. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on TGT. Cowen boosted their target price on shares of Target from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. UBS Group boosted their target price on shares of Target from $86.00 to $103.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Buckingham Research boosted their target price on shares of Target from $117.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird set a $115.00 target price on shares of Target and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Morgan Stanley boosted their target price on shares of Target from $76.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $105.87.

In other news, insider Don H. Liu sold 4,140 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $99.92, for a total value of $413,668.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert M. Harrison sold 13,540 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $104.66, for a total transaction of $1,417,096.40. The disclosure for this sale can be found here. In the last three months, insiders sold 83,478 shares of company stock valued at $8,915,363. 0.24% of the stock is currently owned by company insiders.

Shares of NYSE:TGT traded up $0.90 on Monday, hitting $113.71. The company had a trading volume of 220,241 shares, compared to its average volume of 4,187,104. Target Co. has a 1-year low of $60.15 and a 1-year high of $113.74. The stock has a market cap of $57.85 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 2.60 and a beta of 0.54. The stock has a 50 day moving average price of $108.48 and a 200 day moving average price of $90.06. The company has a current ratio of 0.84, a quick ratio of 0.21 and a debt-to-equity ratio of 1.05.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The firm had revenue of $18.42 billion for the quarter, compared to the consensus estimate of $18.32 billion. During the same period in the previous year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Target Co. will post 6.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.66 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.32%. Target’s payout ratio is presently 48.98%.

Target announced that its Board of Directors has initiated a share buyback plan on Thursday, September 19th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the retailer to reacquire up to 9.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Target Company Profile

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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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