Kistler Tiffany Companies LLC Sells 920 Shares of Target Co. (NYSE:TGT)
Kistler Tiffany Companies LLC lowered its holdings in Target Co. (NYSE:TGT) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,437 shares of the retailer’s stock after selling 920 shares during the quarter. Kistler Tiffany Companies LLC’s holdings in Target were worth $1,082,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Chicago Capital LLC grew its position in shares of Target by 14.5% in the 4th quarter. Chicago Capital LLC now owns 300,000 shares of the retailer’s stock worth $38,463,000 after buying an additional 37,992 shares during the last quarter. Legacy Private Trust Co. grew its position in shares of Target by 2.6% in the 4th quarter. Legacy Private Trust Co. now owns 60,019 shares of the retailer’s stock worth $7,695,000 after buying an additional 1,498 shares during the last quarter. Professional Planning purchased a new position in shares of Target in the 4th quarter worth approximately $2,009,000. Winslow Evans & Crocker Inc. grew its position in shares of Target by 126.9% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 6,980 shares of the retailer’s stock worth $898,000 after buying an additional 3,904 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp purchased a new position in shares of Target in the 4th quarter worth approximately $2,928,000. 76.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on TGT shares. Barclays reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Target in a research report on Friday, November 22nd. Raymond James started coverage on shares of Target in a research report on Monday, October 7th. They issued a “strong-buy” rating and a $130.00 price objective on the stock. Cowen lifted their price objective on shares of Target from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI started coverage on shares of Target in a research report on Wednesday, November 20th. They issued a “hold” rating on the stock. Finally, KeyCorp reaffirmed a “buy” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Target in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $117.19.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.36 EPS for the quarter, beating the consensus estimate of $1.19 by $0.17. The business had revenue of $18.41 billion for the quarter, compared to the consensus estimate of $18.45 billion. Target had a net margin of 4.18% and a return on equity of 28.22%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. On average, equities analysts predict that Target Co. will post 6.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, February 18th. Target’s dividend payout ratio (DPR) is currently 48.98%.
Target announced that its board has approved a stock repurchase plan on Thursday, September 19th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the retailer to purchase up to 9.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Don H. Liu sold 2,274 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $122.20, for a total value of $277,882.80. Following the sale, the insider now directly owns 37,616 shares of the company’s stock, valued at approximately $4,596,675.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie A. Lundquist sold 6,630 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $127.00, for a total transaction of $842,010.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
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 décor products, electronics, toys, seasonal offerings, and other merchandise.
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