Raub Brock Capital Management LP Buys New Holdings in Target Co. (NYSE:TGT)

Raub Brock Capital Management LP bought a new stake in Target Co. (NYSE:TGT) during the second quarter, HoldingsChannel reports. The fund bought 1,862 shares of the retailer’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. Quadrant Capital Group LLC boosted its position in Target by 1.8% in the fourth quarter. Quadrant Capital Group LLC now owns 121,864 shares of the retailer’s stock valued at $15,594,000 after buying an additional 2,105 shares during the last quarter. Capital Asset Advisory Services LLC purchased a new stake in Target in the fourth quarter valued at approximately $208,000. RMB Capital Management LLC purchased a new stake in Target in the fourth quarter valued at approximately $229,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Target in the fourth quarter valued at approximately $2,284,000. Finally, Dai Ichi Life Insurance Company Ltd boosted its position in Target by 1.5% in the fourth quarter. Dai Ichi Life Insurance Company Ltd now owns 39,007 shares of the retailer’s stock valued at $5,001,000 after buying an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 80.99% of the company’s stock.

In related news, insider Don H. Liu sold 4,000 shares of Target stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $120.00, for a total value of $480,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roxanne S. Austin sold 10,000 shares of Target stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $122.01, for a total value of $1,220,100.00. Following the completion of the sale, the director now owns 52,253 shares in the company, valued at $6,375,388.53. The disclosure for this sale can be found here. Insiders have sold a total of 135,524 shares of company stock worth $16,283,219 in the last 90 days. 0.24% of the stock is currently owned by company insiders.

TGT has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price target on Target from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 21st. Cleveland Research raised Target from a “neutral” rating to a “buy” rating in a report on Friday, June 19th. Deutsche Bank boosted their price target on Target from $121.00 to $131.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Robert W. Baird boosted their price target on Target from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Finally, Cfra boosted their price target on Target from $115.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, May 20th. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $129.04.

TGT stock opened at $118.72 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.01 and a quick ratio of 0.42. Target Co. has a 1 year low of $80.03 and a 1 year high of $130.24. The firm has a market capitalization of $59.43 billion, a P/E ratio of 21.99, a P/E/G ratio of 3.96 and a beta of 0.79. The business’s 50-day moving average is $119.26 and its two-hundred day moving average is $113.76.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.19. Target had a return on equity of 24.17% and a net margin of 3.46%. The business had revenue of $19.37 billion for the quarter, compared to analyst estimates of $19.04 billion. During the same quarter last year, the company earned $1.53 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts expect that Target Co. will post 4.96 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Tuesday, August 18th. This is an increase from Target’s previous quarterly dividend of $0.66. Target’s dividend payout ratio (DPR) is currently 41.31%.

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 décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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