Welch & Forbes LLC Buys 71 Shares of Target Co. (NYSE:TGT)

Welch & Forbes LLC lifted its position in shares of Target Co. (NYSE:TGT) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 7,715 shares of the retailer’s stock after purchasing an additional 71 shares during the period. Welch & Forbes LLC’s holdings in Target were worth $1,099,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Apollon Wealth Management LLC grew its position in shares of Target by 68.6% in the 4th quarter. Apollon Wealth Management LLC now owns 8,983 shares of the retailer’s stock valued at $1,279,000 after buying an additional 3,655 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in Target in the fourth quarter valued at approximately $201,000. Maryland State Retirement & Pension System increased its holdings in shares of Target by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 35,807 shares of the retailer’s stock valued at $5,100,000 after acquiring an additional 671 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Target by 1.4% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,704 shares of the retailer’s stock worth $812,000 after purchasing an additional 76 shares during the period. Finally, Summit Trail Advisors LLC grew its position in Target by 8.0% in the 4th quarter. Summit Trail Advisors LLC now owns 4,913 shares of the retailer’s stock valued at $700,000 after purchasing an additional 364 shares during the period. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other Target news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $8,819,598 in the last 90 days. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Roth Mkm upped their price objective on Target from $140.00 to $153.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Jefferies Financial Group upped their price objective on shares of Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. Morgan Stanley boosted their price target on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Telsey Advisory Group increased their target price on Target from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada increased their price objective on Target from $157.00 to $191.00 and gave the stock an “outperform” 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Performance

TGT traded up $0.46 during midday trading on Wednesday, hitting $160.87. 569,092 shares of the company traded hands, compared to its average volume of 3,651,848. The company’s 50-day moving average is $166.79 and its 200 day moving average is $145.90. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The firm has a market capitalization of $74.42 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating the consensus estimate of $2.41 by $0.57. The firm had revenue of $31.47 billion during the quarter, compared to analyst estimates of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. On average, research analysts expect that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.74%. Target’s dividend payout ratio is currently 49.27%.

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.