Target Co. (NYSE:TGT) Shares Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,026 shares of the retailer’s stock after acquiring an additional 326 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Target were worth $716,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TGT. Vanguard Group Inc. raised its position in shares of Target by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 44,527,706 shares of the retailer’s stock valued at $4,923,428,000 after purchasing an additional 702,565 shares in the last quarter. FMR LLC raised its holdings in Target by 26.5% in the third quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock valued at $747,699,000 after acquiring an additional 1,415,900 shares in the last quarter. Northern Trust Corp boosted its stake in Target by 2.7% during the 3rd quarter. Northern Trust Corp now owns 5,146,067 shares of the retailer’s stock valued at $569,001,000 after acquiring an additional 134,262 shares during the last quarter. Stifel Financial Corp grew its holdings in Target by 8.8% during the 3rd quarter. Stifel Financial Corp now owns 3,569,969 shares of the retailer’s stock worth $394,739,000 after acquiring an additional 287,748 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Target by 3.8% in the 3rd quarter. Invesco Ltd. now owns 3,469,168 shares of the retailer’s stock worth $383,586,000 after purchasing an additional 127,491 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TGT shares. Bank of America increased their price target on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upgraded Target from a “hold” rating to a “buy” rating and raised their price objective for the stock from $149.00 to $206.00 in a research note on Wednesday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus lifted their price target on shares of Target from $153.00 to $177.00 and gave the company a “hold” 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Performance

Shares of NYSE TGT traded down $0.82 during midday trading on Wednesday, reaching $159.59. 2,574,589 shares of the company traded hands, compared to its average volume of 3,675,110. The stock has a 50-day moving average price of $166.79 and a 200 day moving average price of $145.90. The company has a market cap of $73.83 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.48 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion during the quarter, compared to analyst estimates of $31.83 billion. During the same period in the prior year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.76%. Target’s dividend payout ratio (DPR) is 49.27%.

Insider Activity at Target

In other Target news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following 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 document filed with the SEC, which is available through this hyperlink. In other news, 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 sale, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the sale, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $8,819,598 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

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.