Peddock Capital Advisors LLC Buys 156 Shares of Target Co. (NYSE:TGT)

Peddock Capital Advisors LLC lifted its position in Target Co. (NYSE:TGT) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,306 shares of the retailer’s stock after acquiring an additional 156 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Target were worth $2,607,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Tower View Wealth Management LLC increased its stake in Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after buying an additional 106 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Target during the fourth quarter valued at approximately $29,000. Friedenthal Financial bought a new stake in Target during the fourth quarter worth $45,000. McGlone Suttner Wealth Management Inc. purchased a new position in Target in the fourth quarter worth $49,000. Finally, MV Capital Management Inc. boosted its position in Target by 200.8% in the fourth quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock worth $51,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction 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 owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock valued at $8,819,598 over the last 90 days. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Guggenheim lifted their target price on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Telsey Advisory Group boosted their target price on shares of Target from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Tigress Financial lifted their price target on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. HSBC raised Target from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. Finally, Bank of America boosted their target price on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Target Price Performance

Shares of NYSE TGT traded up $0.47 during midday trading on Wednesday, hitting $160.88. 1,007,652 shares of the company’s stock were exchanged, compared to its average volume of 3,656,725. The business’s fifty day moving average price is $166.79 and its two-hundred day moving average price is $145.90. The company has a market cap of $74.43 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.48 and a beta of 1.17. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The business had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS. As a group, research analysts forecast that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.73%. Target’s payout ratio is 49.27%.

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.