Cross Staff Investments Inc Raises Stake in Target Co. (NYSE:TGT)

Cross Staff Investments Inc raised its position in shares of Target Co. (NYSE:TGT) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,676 shares of the retailer’s stock after purchasing an additional 76 shares during the quarter. Cross Staff Investments Inc’s holdings in Target were worth $729,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TGT. Washington Trust Advisors Inc. raised its position in shares of Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. raised its position in shares of Target by 0.6% during the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after buying an additional 68 shares during the last quarter. Beacon Capital Management LLC raised its position in shares of Target by 20.8% during the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after buying an additional 69 shares during the last quarter. Integral Investment Advisors Inc. raised its position in shares of Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after buying an additional 69 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in shares of Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 1.4 %

Target stock opened at $150.17 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The stock’s 50 day simple moving average is $153.07 and its two-hundred day simple moving average is $152.23. The firm has a market cap of $69.47 billion, a PE ratio of 16.85, a P/E/G ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last announced 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 analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 EPS. Analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.98%. Target’s payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TGT. Jefferies Financial Group boosted their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Monday, August 26th. Evercore ISI lowered their target price on shares of Target from $170.00 to $165.00 and set an “in-line” rating for the company in a research note on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company upped their price objective on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Target presently has an average rating of “Moderate Buy” and an average price target of $179.47.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was 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 directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s 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 completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $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 sold 52,348 shares of company stock valued at $8,290,995 in the last three months. 0.23% of the stock is currently owned by insiders.

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.