Thompson Davis & CO. Inc. Acquires 460 Shares of Target Co. (NYSE:TGT)

Thompson Davis & CO. Inc. grew its holdings in Target Co. (NYSE:TGT) by 21.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,610 shares of the retailer’s stock after purchasing an additional 460 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Target were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in Target by 9,940.6% during the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after buying an additional 1,981,458 shares during the period. Boston Partners purchased a new position in shares of Target in the 1st quarter valued at $335,870,000. AQR Capital Management LLC raised its position in shares of Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after acquiring an additional 768,479 shares in the last quarter. Swedbank AB purchased a new stake in shares of Target during the 1st quarter worth $107,367,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after purchasing an additional 440,307 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. Roth Mkm boosted their target price on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Monday, August 26th. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their price objective on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.47.

Target Stock Performance

Shares of TGT stock opened at $156.00 on Wednesday. The stock has a market cap of $71.87 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.98 and a beta of 1.24. Target Co. has a 52-week low of $128.37 and a 52-week high of $181.86. The business has a 50-day simple moving average of $152.84 and a 200-day simple moving average of $150.32. 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 released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 EPS. On average, equities analysts expect that Target Co. will post 9.55 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 46.28%.

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.