McGinn Penninger Investment Management Inc. Purchases 120 Shares of Target Co. (NYSE:TGT)

McGinn Penninger Investment Management Inc. boosted its holdings in Target Co. (NYSE:TGT) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,937 shares of the retailer’s stock after acquiring an additional 120 shares during the quarter. Target accounts for approximately 2.8% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 19th largest position. McGinn Penninger Investment Management Inc.’s holdings in Target were worth $4,136,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Granite Bay Wealth Management LLC purchased a new position in Target in the 2nd quarter worth about $866,000. Advisory Alpha LLC lifted its position in Target by 7.2% during the second quarter. Advisory Alpha LLC now owns 1,435 shares of the retailer’s stock valued at $213,000 after purchasing an additional 96 shares during the period. Chase Investment Counsel Corp boosted its holdings in Target by 9.1% in the second quarter. Chase Investment Counsel Corp now owns 3,598 shares of the retailer’s stock worth $532,000 after purchasing an additional 300 shares during the last quarter. EP Wealth Advisors LLC grew its position in Target by 54.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 14,052 shares of the retailer’s stock worth $2,080,000 after purchasing an additional 4,944 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in Target during the 2nd quarter valued at $52,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

NYSE TGT opened at $155.86 on Tuesday. The company has a market cap of $72.11 billion, a PE ratio of 17.49, 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 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’s 50 day moving average price is $148.85 and its 200-day moving average price is $154.33.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 EPS. Sell-side analysts forecast 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. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’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 transaction of $7,140,150.00. Following the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TGT. TD Cowen lifted their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Morgan Stanley reaffirmed 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 raised their price objective on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 target price on shares of Target in a report on Thursday, September 19th. Finally, Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Target currently has an average rating of “Moderate Buy” and an average price target of $179.69.

Target 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.