Target Co. (NYSE:TGT) Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its holdings in Target Co. (NYSE:TGT) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 39,990 shares of the retailer’s stock after buying an additional 666 shares during the period. Pinnacle Associates Ltd.’s holdings in Target were worth $5,920,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Triad Wealth Partners LLC acquired a new position in Target in the second quarter valued at approximately $25,000. Godsey & Gibb Inc. boosted its position in Target by 148.6% during the 1st quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Washington Trust Advisors Inc. grew its stake in Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Retirement Group LLC increased its position in 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 period. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Target in the fourth quarter valued at $28,000. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TGT shares. Royal Bank of Canada upped their price target on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised their price target on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. TD Cowen boosted their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Target from $209.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Roth Mkm lifted their target price on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.68.

Target Price Performance

Shares of NYSE:TGT opened at $153.62 on Friday. The company has a market capitalization of $71.07 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The stock has a fifty day moving average of $147.18 and a 200-day moving average of $154.89. Target Co. has a one year low of $102.93 and a one year high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. Target’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 earnings per share. As a group, equities analysts anticipate that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $1.12 dividend. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is 50.28%.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by company insiders.

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.