Cambridge Financial Group Inc. Increases Holdings in Target Co. (NYSE:TGT)

Cambridge Financial Group Inc. grew its stake in shares of Target Co. (NYSE:TGT) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,295 shares of the retailer’s stock after purchasing an additional 4,090 shares during the quarter. Target accounts for 3.5% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 11th biggest position. Cambridge Financial Group Inc.’s holdings in Target were worth $7,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of TGT. United Services Automobile Association grew its position in shares of Target by 2.9% during the third quarter. United Services Automobile Association now owns 44,232 shares of the retailer’s stock worth $4,891,000 after buying an additional 1,239 shares in the last quarter. RFG Advisory LLC acquired a new position in Target in the fourth quarter worth about $605,000. Tower View Wealth Management LLC raised its stake in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after buying an additional 106 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Target by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock worth $73,819,000 after acquiring an additional 24,066 shares in the last quarter. Finally, Asio Capital LLC raised its position in shares of Target by 109.9% during the 4th quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock valued at $3,883,000 after acquiring an additional 14,274 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Target from $142.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Gordon Haskett increased their target price on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley boosted their price target on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Bank of America increased their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Royal Bank of Canada boosted their target price on shares of Target from $157.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.85.

Target Trading Down 0.1 %

Shares of TGT traded down $0.08 during midday trading on Friday, hitting $158.04. The stock had a trading volume of 3,802,181 shares, compared to its average volume of 2,973,106. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The business has a 50-day simple moving average of $166.46 and a two-hundred day simple moving average of $144.72. 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 firm has a market cap of $73.11 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. As a group, equities analysts forecast that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.78%. Target’s dividend payout ratio (DPR) is presently 49.27%.

Insider Activity

In other Target 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 sale, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock worth $8,819,598 in the last 90 days. Company insiders own 0.23% of the company’s stock.

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.