Target Co. (NYSE:TGT) Shares Sold by Gamble Jones Investment Counsel

Gamble Jones Investment Counsel cut its stake in shares of Target Co. (NYSE:TGT) by 1.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,042 shares of the retailer’s stock after selling 130 shares during the period. Gamble Jones Investment Counsel’s holdings in Target were worth $860,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC lifted its position in Target by 23.0% during the 2nd quarter. Carnick & Kubik Group LLC now owns 60,816 shares of the retailer’s stock worth $5,268,000 after acquiring an additional 11,376 shares in the last quarter. Breiter Capital Management Inc. lifted its position in Target by 4.0% during the 2nd quarter. Breiter Capital Management Inc. now owns 6,348 shares of the retailer’s stock worth $483,000 after acquiring an additional 245 shares in the last quarter. Albion Financial Group UT lifted its position in Target by 1.9% during the 2nd quarter. Albion Financial Group UT now owns 32,220 shares of the retailer’s stock worth $2,791,000 after acquiring an additional 605 shares in the last quarter. FinTrust Capital Advisors LLC lifted its position in Target by 10.0% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 2,193 shares of the retailer’s stock worth $190,000 after acquiring an additional 200 shares in the last quarter. Finally, Goelzer Investment Management Inc. lifted its position in Target by 1.3% during the 2nd quarter. Goelzer Investment Management Inc. now owns 86,320 shares of the retailer’s stock worth $7,476,000 after acquiring an additional 1,104 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently commented on the company. Robert W. Baird set a $115.00 price target on Target and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Barclays set a $115.00 price target on Target and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Raymond James assumed coverage on Target in a research report on Monday, October 7th. They set a “strong-buy” rating and a $130.00 price target on the stock. ValuEngine lowered Target from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup raised Target from a “neutral” rating to a “buy” rating and upped their target price for the company from $80.00 to $130.00 in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $107.70.

Shares of TGT traded down $0.44 during trading on Friday, reaching $110.15. The company’s stock had a trading volume of 2,779,112 shares, compared to its average volume of 5,086,021. Target Co. has a twelve month low of $60.15 and a twelve month high of $114.83. The company has a quick ratio of 0.21, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. The company has a market cap of $56.23 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 2.53 and a beta of 0.54. The company has a fifty day moving average of $109.29 and a two-hundred day moving average of $93.06.

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Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Target had a return on equity of 27.43% and a net margin of 4.10%. The business had revenue of $18.42 billion during the quarter, compared to the consensus estimate of $18.32 billion. During the same period in the previous year, the business earned $1.47 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Target Co. will post 6.16 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.66 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.40%. Target’s dividend payout ratio (DPR) is 48.98%.

Target declared that its Board of Directors has approved a share buyback program on Thursday, September 19th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the retailer to repurchase up to 9.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other news, insider Cathy R. Smith sold 8,412 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $104.40, for a total value of $878,212.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Edward Mcnamara sold 20,386 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $108.25, for a total value of $2,206,784.50. Following the completion of the sale, the insider now owns 64,517 shares of the company’s stock, valued at $6,983,965.25. The disclosure for this sale can be found here. Insiders sold a total of 83,478 shares of company stock valued at $8,915,363 over the last quarter. Company insiders own 0.24% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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