MBB Public Markets I LLC Buys 20,929 Shares of Target Co. (NYSE:TGT)

MBB Public Markets I LLC grew its position in Target Co. (NYSE:TGT) by 173.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 33,004 shares of the retailer’s stock after acquiring an additional 20,929 shares during the period. MBB Public Markets I LLC’s holdings in Target were worth $4,886,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Target in the second quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target in the fourth quarter valued at approximately $28,000. Slocum Gordon & Co LLP bought a new position in Target in the 2nd quarter valued at approximately $28,000. Scarborough Advisors LLC acquired a new stake in Target during the 4th quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in Target during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $155.18 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm has a market cap of $71.49 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 2.00 and a beta of 1.24. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The firm’s 50-day simple moving average is $148.64 and its two-hundred day simple moving average is $154.65.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the previous year, the firm posted $1.80 EPS. Target’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

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 dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. Target’s payout ratio is 50.28%.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of Target 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 directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent research reports. TD Cowen lifted their price target on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Royal Bank of Canada lifted their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Evercore ISI increased their price target on Target from $158.00 to $160.00 and gave the company an “inline” rating in a research note on Thursday, August 22nd. UBS Group lifted their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Stifel Nicolaus increased their target price on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.