Target Co. (NYSE:TGT) Shares Sold by Iowa State Bank

Iowa State Bank cut its holdings in shares of Target Co. (NYSE:TGT) by 30.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,835 shares of the retailer’s stock after selling 802 shares during the period. Iowa State Bank’s holdings in Target were worth $286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clarity Asset Management Inc. acquired a new stake in Target in the fourth quarter worth approximately $57,000. Security National Bank of SO Dak increased its holdings in shares of Target by 2.6% in the fourth quarter. Security National Bank of SO Dak now owns 14,116 shares of the retailer’s stock valued at $2,010,000 after buying an additional 357 shares in the last quarter. Oarsman Capital Inc. increased its holdings in shares of Target by 19.8% in the fourth quarter. Oarsman Capital Inc. now owns 8,553 shares of the retailer’s stock valued at $1,218,000 after buying an additional 1,416 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in shares of Target in the fourth quarter valued at $1,503,000. Finally, Burford Brothers Inc. bought a new position in shares of Target in the fourth quarter valued at $996,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TGT has been the topic of several research reports. Citigroup upped their price target on Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and set a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Monday, August 26th. Finally, Daiwa America raised shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.69.

Target Trading Up 1.6 %

Shares of NYSE:TGT opened at $158.47 on Friday. The stock has a market capitalization of $73.00 billion, a PE ratio of 16.37, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a 1 year low of $105.23 and a 1 year high of $181.86. The firm has a fifty day moving average price of $149.86 and a 200 day moving average price of $153.52. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion during 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%. Target’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 earnings per share. Analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 46.28%.

Insider Buying and Selling at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’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 directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Richard H. Gomez sold 6,348 shares of the company’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 transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 over the last ninety days. Company insiders own 0.15% of the company’s stock.

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.