Twin Capital Management Inc. Makes New Investment in Target Co. (NYSE:TGT)

Twin Capital Management Inc. purchased a new position in Target Co. (NYSE:TGT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,198 shares of the retailer’s stock, valued at approximately $1,452,000.

Other large investors have also recently made changes to their positions in the company. Tower View Wealth Management LLC grew its position in shares of Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after buying an additional 106 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Target in the 4th quarter worth approximately $29,000. First Capital Advisors Group LLC. bought a new stake in shares of Target in the 2nd quarter worth approximately $31,000. Penserra Capital Management LLC bought a new stake in shares of Target in the 4th quarter worth approximately $35,000. Finally, Impact Partnership Wealth LLC grew its position in shares of Target by 106.6% in the 3rd quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock worth $45,000 after buying an additional 209 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Up 1.3 %

TGT stock opened at $166.58 on Friday. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The business has a fifty day moving average price of $163.25 and a 200-day moving average price of $140.52. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The stock has a market capitalization of $76.91 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.54 and a beta of 1.14.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The firm had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TGT shares. Barclays lifted their price objective on Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Oppenheimer lifted their price target on Target from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Morgan Stanley lifted their price target on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Tigress Financial lifted their price target on Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. lifted their price target on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the sale, the insider now owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by insiders.

Target Company 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.