Jacobs & Co. CA Boosts Position in Target Co. (NYSE:TGT)

Jacobs & Co. CA lifted its position in Target Co. (NYSE:TGT) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,138 shares of the retailer’s stock after purchasing an additional 1,060 shares during the quarter. Jacobs & Co. CA’s holdings in Target were worth $3,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in Target during the second quarter worth $25,000. Washington Trust Advisors Inc. grew its holdings in shares of 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 purchasing an additional 64 shares during the period. Slocum Gordon & Co LLP acquired a new stake in shares of Target during the 2nd quarter worth about $28,000. Retirement Group LLC raised its holdings in Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after buying an additional 91 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Target in the fourth quarter valued at about $28,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the 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 of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.23% of the company’s stock.

Target Price Performance

Shares of TGT opened at $150.40 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The stock has a market cap of $69.58 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The firm has a fifty day moving average price of $148.96 and a 200 day moving average price of $154.22.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share 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 33.10% and a net margin of 4.18%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 EPS. As a group, sell-side analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TGT shares. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. Wells Fargo & Company boosted their target price on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Daiwa America upgraded Target to a “strong-buy” rating in a research note on Monday, August 26th. Royal Bank of Canada lifted their price objective on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.69.

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.