Pegasus Partners Ltd. Increases Stock Holdings in Target Co. (NYSE:TGT)

Pegasus Partners Ltd. lifted its holdings in shares of Target Co. (NYSE:TGT) by 21.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,887 shares of the retailer’s stock after acquiring an additional 517 shares during the quarter. Pegasus Partners Ltd.’s holdings in Target were worth $450,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norden Group LLC increased its position in Target by 17.2% in the 1st quarter. Norden Group LLC now owns 2,229 shares of the retailer’s stock valued at $395,000 after acquiring an additional 327 shares during the period. Csenge Advisory Group bought a new stake in shares of Target during the first quarter valued at about $248,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Target by 75.4% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,516 shares of the retailer’s stock worth $623,000 after purchasing an additional 1,512 shares during the period. Highland Capital Management LLC acquired a new position in Target during the 1st quarter valued at about $210,000. Finally, Forsta AP Fonden raised its position in shares of Target by 10.9% during the 1st quarter. Forsta AP Fonden now owns 95,700 shares of the retailer’s stock worth $16,959,000 after buying an additional 9,400 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. 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 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Oppenheimer dropped their target price on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus lifted their target price on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price target on shares of Target in a report on Thursday, September 19th. Roth Mkm lifted their price objective on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Finally, TD Cowen increased their target price on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Target Price Performance

Shares of NYSE:TGT opened at $149.79 on Friday. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average is $152.39 and its 200 day moving average is $150.84. The stock has a market cap of $69.00 billion, a PE ratio of 15.47, a PEG ratio of 1.93 and a beta of 1.24.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the previous year, the firm earned $1.80 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Research analysts anticipate that Target Co. will post 9.54 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 46.28%.

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.