Koshinski Asset Management Inc. raised its stake in shares of Target Co. (NYSE:TGT) by 18.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,443 shares of the retailer’s stock after purchasing an additional 707 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Target were worth $1,016,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Target by 4.5% during the second quarter. BlackRock Inc. now owns 40,515,802 shares of the retailer’s stock worth $9,794,290,000 after buying an additional 1,747,686 shares during the last quarter. GQG Partners LLC lifted its holdings in Target by 48.1% in the second quarter. GQG Partners LLC now owns 5,919,055 shares of the retailer’s stock valued at $1,430,396,000 after buying an additional 1,923,419 shares during the period. Jennison Associates LLC lifted its holdings in Target by 3.8% in the second quarter. Jennison Associates LLC now owns 4,687,215 shares of the retailer’s stock valued at $1,133,087,000 after buying an additional 172,890 shares during the period. Bank of New York Mellon Corp lifted its holdings in Target by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 4,311,362 shares of the retailer’s stock valued at $1,042,229,000 after buying an additional 66,981 shares during the period. Finally, Legal & General Group Plc raised its holdings in Target by 5.5% in the second quarter. Legal & General Group Plc now owns 3,982,448 shares of the retailer’s stock worth $962,716,000 after purchasing an additional 206,130 shares during the period. Institutional investors own 78.36% of the company’s stock.
TGT opened at $248.76 on Thursday. The stock has a 50-day moving average price of $247.07 and a 200-day moving average price of $243.89. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.04 and a quick ratio of 0.46. The firm has a market cap of $121.40 billion, a PE ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 1.03. Target Co. has a 1 year low of $166.82 and a 1 year high of $268.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Wednesday, November 17th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, November 16th. This represents a $3.60 annualized dividend and a yield of 1.45%. Target’s payout ratio is 28.66%.
Target announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 18th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the retailer to repurchase up to 12.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have recently issued reports on TGT shares. Credit Suisse Group started coverage on shares of Target in a research report on Friday, November 19th. They set an “outperform” rating and a $286.00 price objective for the company. Citigroup increased their price target on shares of Target from $258.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Target from $306.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, November 10th. Telsey Advisory Group raised their target price on shares of Target from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. Finally, Morgan Stanley lifted their price objective on shares of Target from $250.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 25th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $259.41.
In other Target news, insider Brian C. Cornell sold 25,000 shares of the company’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $245.98, for a total value of $6,149,500.00. Following the transaction, the insider now owns 195,271 shares of the company’s stock, valued at approximately $48,032,760.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christina Hennington sold 4,173 shares of the stock in a transaction on Friday, November 19th. The stock was sold at an average price of $250.95, for a total value of $1,047,214.35. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.
Target Company Profile
Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.
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