Naples Money Management LLC Purchases New Stake in Target Co. (NYSE:TGT)

Naples Money Management LLC acquired a new position in shares of Target Co. (NYSE:TGT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,050 shares of the retailer’s stock, valued at approximately $150,000.

Other large investors also recently made changes to their positions in the company. Resonant Capital Advisors LLC acquired a new stake in Target in the 4th quarter valued at $242,000. Beaumont Financial Advisors LLC acquired a new stake in shares of Target in the fourth quarter valued at about $264,000. HTLF Bank purchased a new stake in shares of Target during the 4th quarter valued at about $509,000. Fidelis Capital Partners LLC lifted its position in Target by 55.2% during the 4th quarter. Fidelis Capital Partners LLC now owns 5,089 shares of the retailer’s stock worth $725,000 after acquiring an additional 1,810 shares in the last quarter. Finally, Bender Robert & Associates purchased a new position in Target in the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity at Target

In other Target news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the sale, the insider now directly owns 38,487 shares in the company, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock worth $8,819,598 in the last three months. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

TGT has been the topic of a number of analyst reports. Tigress Financial lifted their price objective on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. UBS Group reiterated a “buy” rating and issued a $174.00 price objective on shares of Target in a report on Tuesday, March 5th. Evercore ISI lowered their target price on Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research note on Tuesday. Stifel Nicolaus lifted their target price on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company increased their price target on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Performance

TGT traded up $1.72 during trading on Friday, reaching $168.30. 3,284,403 shares of the company were exchanged, compared to its average volume of 3,781,228. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The stock has a market cap of $77.70 billion, a P/E ratio of 18.76, a PEG ratio of 1.54 and a beta of 1.14. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The firm has a 50 day moving average of $163.25 and a 200 day moving average of $140.52.

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

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.61%. Target’s dividend payout ratio is presently 49.27%.

About Target

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.