Target Co. (NYSE:TGT) Position Increased by Morton Community Bank

Morton Community Bank raised its stake in Target Co. (NYSE:TGT) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,547 shares of the retailer’s stock after buying an additional 846 shares during the period. Morton Community Bank’s holdings in Target were worth $3,042,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Little House Capital LLC acquired a new position in shares of Target in the 1st quarter valued at $1,041,000. Nordea Investment Management AB boosted its holdings in shares of Target by 23.6% in the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after buying an additional 122,706 shares during the period. QRG Capital Management Inc. increased its position 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 acquiring an additional 6,690 shares in the last quarter. Janney Capital Management LLC acquired a new stake in shares of Target during the first quarter valued at approximately $13,958,000. Finally, United Services Automobile Association lifted its position in shares of Target by 134.6% in the 4th quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock valued at $14,781,000 after acquiring an additional 59,553 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

Shares of TGT stock traded down $0.62 during trading hours on Friday, reaching $151.28. 4,045,069 shares of the company’s stock were exchanged, compared to its average volume of 4,037,096. The stock has a market capitalization of $69.99 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The business has a fifty day moving average price of $147.63 and a 200-day moving average price of $155.09. 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 earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $1.80 earnings per share. Analysts predict that Target Co. will post 9.49 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 2.96%. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio is currently 50.28%.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s 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 sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was 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 directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

TGT has been the topic of several recent analyst reports. Roth Mkm boosted their target price on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Stifel Nicolaus upped their price target on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Evercore ISI raised their price objective on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Daiwa America raised Target to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada increased their price target on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.68.

Target 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.