Conning Inc. Buys 12,627 Shares of Target Co. (NYSE:TGT)

Conning Inc. lifted its stake in shares of Target Co. (NYSE:TGT) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,675 shares of the retailer’s stock after purchasing an additional 12,627 shares during the period. Conning Inc.’s holdings in Target were worth $38,603,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Triad Wealth Partners LLC bought a new stake in Target during the second quarter worth $25,000. Washington Trust Advisors Inc. raised its holdings in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Slocum Gordon & Co LLP acquired a new stake in Target in the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in Target during the second quarter worth about $31,000. Finally, Wolff Wiese Magana LLC increased its position in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Target Trading Up 0.5 %

Shares of TGT opened at $150.84 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The firm has a market cap of $69.49 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.92 and a beta of 1.24. The business’s fifty day moving average is $153.04 and its 200-day moving average is $151.32.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.80 earnings per share. Equities analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.97%. Target’s dividend payout ratio is currently 46.28%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. UBS Group upped their price objective on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Roth Mkm raised their target price 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, Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Target Company 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.