Uncommon Cents Investing LLC purchased a new position in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 30,673 shares of the retailer’s stock, valued at approximately $2,307,000. Target accounts for about 1.5% of Uncommon Cents Investing LLC’s portfolio, making the stock its 24th largest position.
Several other institutional investors have also recently modified their holdings of the company. SNS Financial Group LLC lifted its holdings in shares of Target by 11.9% during the 4th quarter. SNS Financial Group LLC now owns 15,239 shares of the retailer’s stock worth $994,000 after acquiring an additional 1,623 shares during the period. Itau Unibanco Holding S.A. lifted its stake in Target by 1,931.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 7,943 shares of the retailer’s stock valued at $518,000 after purchasing an additional 7,552 shares during the last quarter. Schroder Investment Management Group lifted its stake in Target by 27.4% in the 4th quarter. Schroder Investment Management Group now owns 1,345,277 shares of the retailer’s stock valued at $87,779,000 after purchasing an additional 289,031 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Target by 9.4% in the 4th quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock valued at $695,229,000 after purchasing an additional 916,178 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. bought a new position in Target in the 4th quarter valued at approximately $1,027,000. 88.32% of the stock is owned by institutional investors.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the sale, the insider now directly owns 16,906 shares in the company, valued at $1,320,020.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert M. Harrison sold 8,557 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total transaction of $656,664.18. Following the sale, the insider now owns 13,288 shares of the company’s stock, valued at $1,019,721.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,262 shares of company stock valued at $1,185,484. 0.20% of the stock is currently owned by corporate insiders.
Target Co. (NYSE:TGT) opened at $75.70 on Monday. The stock has a market cap of $41,148.45, a price-to-earnings ratio of 15.77, a PEG ratio of 3.57 and a beta of 0.76. Target Co. has a 52 week low of $48.56 and a 52 week high of $78.70. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s dividend payout ratio (DPR) is presently 51.88%.
TGT has been the subject of several research reports. Zacks Investment Research raised shares of Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a research note on Saturday, January 20th. Robert W. Baird reissued a “hold” rating and issued a $70.00 price objective on shares of Target in a research note on Wednesday, January 3rd. MKM Partners set a $77.00 price objective on shares of Target and gave the company a “buy” rating in a research note on Thursday, December 14th. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price objective (up previously from $65.00) on shares of Target in a research note on Wednesday, January 10th. Finally, Morgan Stanley dropped their price objective on shares of Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, November 16th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.56.
Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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