Verity & Verity LLC Grows Stock Position in Target Co. (NYSE:TGT)

Verity & Verity LLC boosted its position in shares of Target Co. (NYSE:TGT) by 10.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,952 shares of the retailer’s stock after buying an additional 9,903 shares during the quarter. Target accounts for approximately 1.8% of Verity & Verity LLC’s investment portfolio, making the stock its 20th largest position. Verity & Verity LLC’s holdings in Target were worth $15,833,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Little House Capital LLC bought a new position in Target during the 1st quarter valued at about $1,041,000. Nordea Investment Management AB grew its stake in shares of Target by 23.6% during the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after buying an additional 122,706 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after buying an additional 6,690 shares during the period. Janney Capital Management LLC bought a new stake in shares of Target during the 1st quarter worth approximately $13,958,000. Finally, Wellington Management Group LLP boosted its holdings in Target by 864.4% during the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after acquiring an additional 51,639 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TGT. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. UBS Group boosted their price objective on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Jefferies Financial Group upped their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Melius Research started coverage on shares of Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. Finally, Citigroup increased their price objective on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.69.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction 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 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Target Stock Down 2.3 %

Target stock opened at $152.20 on Wednesday. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The firm has a market cap of $70.41 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The business’s 50-day moving average price is $148.89 and its 200 day moving average price is $154.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued its quarterly earnings data 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 business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter last year, the company earned $1.80 EPS. The business’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.94%. Target’s dividend payout ratio (DPR) is currently 50.28%.

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.