Palisade Asset Management LLC Boosts Stake in Target Co. (NYSE:TGT)

Palisade Asset Management LLC lifted its position in Target Co. (NYSE:TGT) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,948 shares of the retailer’s stock after purchasing an additional 411 shares during the quarter. Target comprises approximately 2.2% of Palisade Asset Management LLC’s portfolio, making the stock its 9th largest holding. Palisade Asset Management LLC’s holdings in Target were worth $19,647,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tower View Wealth Management LLC boosted its holdings in shares of Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Rakuten Securities Inc. bought a new position in Target during the fourth quarter valued at approximately $29,000. Friedenthal Financial purchased a new position in shares of Target during the fourth quarter worth approximately $45,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Target in the 4th quarter valued at $49,000. Finally, MV Capital Management Inc. grew its holdings in shares of Target by 200.8% during the 4th quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock valued at $51,000 after purchasing an additional 241 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling

In other Target news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

Target Stock Down 0.1 %

Target stock traded down $0.17 during midday trading on Wednesday, hitting $160.24. 1,387,692 shares of the company’s stock were exchanged, compared to its average volume of 3,660,333. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The company has a market cap of $74.13 billion, a PE ratio of 17.96, a P/E/G ratio of 1.48 and a beta of 1.17. The firm has a 50-day moving average of $166.79 and a two-hundred day moving average of $145.90.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The firm 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 company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.89 earnings per share. As a group, analysts expect that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.75%. Target’s dividend payout ratio (DPR) is presently 49.27%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TGT. Tigress Financial boosted their price target on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday. BMO Capital Markets upped their price target on Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. Guggenheim raised their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, DA Davidson lifted their target price on Target from $167.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.85.

Target Company 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.