Carret Asset Management LLC Has $8.43 Million Stock Position in Target Co. (NYSE:TGT)

Carret Asset Management LLC grew its position in Target Co. (NYSE:TGT) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 54,107 shares of the retailer’s stock after purchasing an additional 973 shares during the period. Target comprises approximately 0.9% of Carret Asset Management LLC’s holdings, making the stock its 23rd largest holding. Carret Asset Management LLC’s holdings in Target were worth $8,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in shares of Target in the second quarter worth approximately $25,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target in the second quarter worth approximately $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Target in the second quarter worth approximately $31,000. Washington Trust Advisors Inc. lifted its position in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Wolff Wiese Magana LLC lifted its position in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of Target stock opened at $151.16 on Friday. The firm has a market cap of $69.93 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The firm’s 50-day simple moving average is $153.38 and its 200-day simple moving average is $151.95. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the previous year, the business earned $1.80 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is 50.28%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TGT. UBS Group raised their price objective on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein began coverage on shares of Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. Bank of America raised their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI cut their price objective on shares of Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Finally, Daiwa America raised shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 in the last 90 days. 0.23% of the stock is owned by corporate 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.