Target Co. (NYSE:TGT) Shares Bought by Ballast Inc.

Ballast Inc. grew its position in Target Co. (NYSE:TGT) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,721 shares of the retailer’s stock after purchasing an additional 150 shares during the period. Target makes up 0.5% of Ballast Inc.’s holdings, making the stock its 29th largest position. Ballast Inc.’s holdings in Target were worth $1,827,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in Target during the second quarter valued at $25,000. Washington Trust Advisors Inc. raised its stake in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Slocum Gordon & Co LLP acquired a new position in shares of Target in the 2nd quarter valued at about $28,000. Retirement Group LLC boosted its stake in shares of Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after buying an additional 91 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Target during the second quarter worth about $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on TGT shares. Citigroup boosted their price target on Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Finally, Roth Mkm upped their price target on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’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 transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s 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 completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 in the last 90 days. Insiders own 0.23% of the company’s stock.

Target Price Performance

NYSE:TGT opened at $155.91 on Friday. The stock has a 50 day moving average price of $151.83 and a 200 day moving average price of $153.04. The stock has a market cap of $72.13 billion, a PE ratio of 17.50, a P/E/G ratio of 1.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a one year low of $105.23 and a one year high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same quarter in the previous year, the firm earned $1.80 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.87%. Target’s dividend payout ratio (DPR) is 50.28%.

About Target

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.