Keene & Associates Inc. Invests $614,000 in Target Co. (NYSE:TGT)

Keene & Associates Inc. bought a new position in Target Co. (NYSE:TGT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,937 shares of the retailer’s stock, valued at approximately $614,000.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Target by 9,940.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after buying an additional 1,981,458 shares during the period. Boston Partners purchased a new position in shares of Target in the 1st quarter worth about $335,870,000. AQR Capital Management LLC lifted its stake in shares of Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after purchasing an additional 768,479 shares in the last quarter. Swedbank AB purchased a new stake in shares of Target during the 1st quarter worth about $107,367,000. Finally, Clearbridge Investments LLC increased its position in Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after purchasing an additional 470,647 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Target

In related 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 transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the business’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 transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.23% of the stock is currently owned by company insiders.

Target Stock Performance

Shares of TGT opened at $148.04 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The business’s fifty day moving average price is $153.07 and its 200 day moving average price is $152.23. The stock has a market capitalization of $68.49 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last posted its quarterly earnings results 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. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same period last year, the firm posted $1.80 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts forecast that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 50.28%.

Analysts Set New Price Targets

TGT has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein initiated coverage on shares of Target in a report on Tuesday. They set a “market perform” rating and a $168.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Target in a report on Wednesday, August 21st. Jefferies Financial Group raised their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Bank of America upped their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

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.