Coastline Trust Co Acquires 325 Shares of Target Co. (NYSE:TGT)

Coastline Trust Co raised its stake in shares of Target Co. (NYSE:TGT) by 6.6% in the 3rd quarter, Holdings Channel reports. The firm owned 5,236 shares of the retailer’s stock after purchasing an additional 325 shares during the quarter. Coastline Trust Co’s holdings in Target were worth $816,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Triad Wealth Partners LLC bought a new position in shares of Target during the second quarter worth about $25,000. Slocum Gordon & Co LLP bought a new stake in Target in the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC acquired a new stake in Target during the 2nd quarter valued at approximately $31,000. Wolff Wiese Magana LLC raised its holdings in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Target in the 2nd quarter worth approximately $37,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

TGT opened at $152.16 on Friday. Target Co. has a 1 year low of $127.19 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The company has a market capitalization of $70.10 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.00 and a beta of 1.24. The firm’s fifty day moving average price is $152.56 and its two-hundred day moving average price is $150.46.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share 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 analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.80 earnings per share. As a group, analysts anticipate that Target Co. will post 9.54 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 46.28%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TGT. Citigroup increased their price objective on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. Royal Bank of Canada upped their target price on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, UBS Group increased their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s 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. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is owned by insiders.

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.