Gofen & Glossberg LLC IL Acquires 110 Shares of Target Co. (NYSE:TGT)

Gofen & Glossberg LLC IL raised its holdings in Target Co. (NYSE:TGTGet Rating) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,131 shares of the retailer’s stock after acquiring an additional 110 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Target were worth $2,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Landmark Wealth Management LLC acquired a new stake in Target in the first quarter worth $25,000. Blume Capital Management Inc. acquired a new stake in Target in the 1st quarter valued at $25,000. Delos Wealth Advisors LLC bought a new position in shares of Target in the 4th quarter valued at about $29,000. Roble Belko & Company Inc bought a new position in shares of Target in the 1st quarter valued at about $32,000. Finally, Cornerstone Advisory LLC bought a new position in shares of Target in the 4th quarter valued at about $36,000. 77.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Target

In related news, CAO Matthew A. Liegel sold 1,226 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the transaction, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at $488,725.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Target news, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the transaction, the insider now directly owns 118,425 shares in the company, valued at approximately $19,660,918.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,226 shares of Target stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the transaction, the chief accounting officer now owns 2,812 shares in the company, valued at $488,725.60. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $152.96 on Friday. Target Co. has a 12 month low of $137.16 and a 12 month high of $268.98. The stock has a market cap of $70.40 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The company has a current ratio of 0.82, a quick ratio of 0.14 and a debt-to-equity ratio of 1.27. The company’s fifty day moving average price is $163.84 and its 200-day moving average price is $182.03.

Target (NYSE:TGTGet Rating) last issued its earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). Target had a return on equity of 35.15% and a net margin of 3.92%. The business had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $26.07 billion. During the same period last year, the firm posted $3.64 EPS. Target’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Target Co. will post 8.11 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.82%. Target’s dividend payout ratio (DPR) is presently 49.09%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Target from $195.00 to $193.00 and set a “buy” rating for the company in a research report on Thursday, August 18th. Tigress Financial reduced their target price on shares of Target from $320.00 to $215.00 and set a “buy” rating for the company in a report on Friday, July 29th. TheStreet downgraded shares of Target from a “b-” rating to a “c+” rating in a report on Friday, June 24th. UBS Group reduced their target price on shares of Target from $225.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Finally, StockNews.com cut shares of Target from a “buy” rating to a “hold” rating in a research note on Saturday, May 28th. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.67.

Target Profile

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Further Reading

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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