Triangle Securities Wealth Management Has $1.86 Million Stock Holdings in Target Co. (NYSE:TGT)

Triangle Securities Wealth Management trimmed its position in shares of Target Co. (NYSE:TGT) by 2.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,146 shares of the retailer’s stock after selling 185 shares during the quarter. Triangle Securities Wealth Management’s holdings in Target were worth $1,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. OLD Mission Capital LLC bought a new position in Target during the third quarter valued at about $200,000. Principal Financial Group Inc. increased its stake in Target by 0.8% during the first quarter. Principal Financial Group Inc. now owns 1,209,328 shares of the retailer’s stock valued at $239,532,000 after acquiring an additional 9,951 shares during the period. Voloridge Investment Management LLC bought a new position in Target during the first quarter valued at about $4,276,000. TownSquare Capital LLC increased its stake in Target by 26.1% during the first quarter. TownSquare Capital LLC now owns 6,073 shares of the retailer’s stock valued at $1,203,000 after acquiring an additional 1,256 shares during the period. Finally, Axiom Investment Management LLC bought a new position in Target during the first quarter valued at about $383,000. Hedge funds and other institutional investors own 78.36% of the company’s stock.

In other Target news, insider Christina Hennington sold 4,173 shares of the company’s stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $250.95, for a total value of $1,047,214.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Cornell sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $245.98, for a total transaction of $6,149,500.00. Following the completion of the transaction, the insider now owns 195,271 shares of the company’s stock, valued at $48,032,760.58. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Shares of TGT opened at $248.76 on Thursday. The firm’s 50-day moving average price is $247.07 and its 200-day moving average price is $243.89. The firm has a market capitalization of $121.40 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.42 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.46 and a debt-to-equity ratio of 0.78. Target Co. has a 1-year low of $166.82 and a 1-year high of $268.98.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 17th. The retailer reported $3.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.20. The company had revenue of $25.29 billion during the quarter, compared to analysts’ expectations of $24.60 billion. Target had a net margin of 6.29% and a return on equity of 44.68%. Target’s revenue was up 13.2% on a year-over-year basis. During the same period last year, the company posted $2.79 EPS. On average, research analysts forecast that Target Co. will post 12.97 EPS for the current fiscal year.

Target declared that its board has authorized a share buyback program on Wednesday, August 18th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the retailer to repurchase up to 12.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Wednesday, November 17th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, November 16th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.45%. Target’s dividend payout ratio is presently 28.66%.

Several equities analysts recently issued reports on TGT shares. Credit Suisse Group started coverage on Target in a research note on Friday, November 19th. They set an “outperform” rating and a $286.00 price target on the stock. Citigroup upped their price objective on Target from $258.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. The Goldman Sachs Group upped their price objective on Target from $281.00 to $308.00 and gave the company a “buy” rating in a research note on Tuesday, October 19th. Morgan Stanley upped their price objective on Target from $250.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 25th. Finally, Telsey Advisory Group upped their price objective on Target from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, August 13th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $259.41.

Target Company Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

Featured Article: Understanding debt-to-equity ratio in fundamental analysis

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.