Greenleaf Trust Increases Stake in Target Co. (TGT)

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Greenleaf Trust grew its position in shares of Target Co. (NYSE:TGT) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,187 shares of the retailer’s stock after buying an additional 910 shares during the quarter. Greenleaf Trust’s holdings in Target were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bath Savings Trust Co acquired a new stake in Target in the 3rd quarter worth approximately $229,000. Highstreet Asset Management Inc. lifted its holdings in Target by 2.6% in the 2nd quarter. Highstreet Asset Management Inc. now owns 38,835 shares of the retailer’s stock worth $2,956,000 after purchasing an additional 980 shares during the last quarter. Uncommon Cents Investing LLC lifted its holdings in Target by 2.2% in the 2nd quarter. Uncommon Cents Investing LLC now owns 31,623 shares of the retailer’s stock worth $2,407,000 after purchasing an additional 685 shares during the last quarter. D L Carlson Investment Group Inc. lifted its holdings in Target by 21.2% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 61,919 shares of the retailer’s stock worth $4,713,000 after purchasing an additional 10,835 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in Target by 7.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 58,289 shares of the retailer’s stock worth $5,142,000 after purchasing an additional 4,011 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.

TGT has been the subject of several analyst reports. Loop Capital set a $102.00 target price on Target and gave the stock a “hold” rating in a report on Friday, August 17th. UBS Group boosted their target price on Target from $76.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 17th. Guggenheim restated a “hold” rating on shares of Target in a report on Wednesday, August 22nd. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Tuesday, August 7th. Finally, Deutsche Bank set a $90.00 target price on Target and gave the stock a “hold” rating in a report on Saturday, August 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $87.68.

Shares of NYSE TGT opened at $83.63 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.37 and a beta of 0.70. Target Co. has a 12 month low of $54.04 and a 12 month high of $90.39.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.07. The company had revenue of $17.78 billion for the quarter, compared to the consensus estimate of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. On average, research analysts forecast that Target Co. will post 5.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, November 20th. Target’s dividend payout ratio is currently 54.35%.

In other Target news, insider Stephanie A. Lundquist sold 2,100 shares of Target stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Janna A. Potts sold 15,172 shares of Target stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $88.00, for a total value of $1,335,136.00. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

Further Reading: Cost of Debt

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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