Blue Chip Partners LLC Purchases 6,348 Shares of Target Co. (NYSE:TGT)

Blue Chip Partners LLC boosted its position in Target Co. (NYSE:TGT - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,179 shares of the retailer's stock after acquiring an additional 6,348 shares during the period. Target accounts for 1.9% of Blue Chip Partners LLC's portfolio, making the stock its 22nd largest position. Blue Chip Partners LLC's holdings in Target were worth $18,540,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TGT. Tower View Wealth Management LLC grew its position in shares of Target by 82.8% during the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer's stock worth $26,000 after buying an additional 106 shares during the period. Rakuten Securities Inc. bought a new stake in Target in the fourth quarter valued at approximately $29,000. Friedenthal Financial acquired a new stake in Target in the fourth quarter worth $45,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Target in the fourth quarter worth $49,000. Finally, MV Capital Management Inc. raised its holdings in Target by 200.8% in the fourth quarter. MV Capital Management Inc. now owns 361 shares of the retailer's stock worth $51,000 after purchasing an additional 241 shares during the period. Institutional investors own 79.73% of the company's stock.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company's stock, valued at approximately $58,115,870.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company's stock, valued at approximately $5,038,481.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares of the company's stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. Company insiders own 0.23% of the company's stock.

Target Stock Performance

Shares of TGT traded up $0.30 during midday trading on Friday, reaching $164.74. The stock had a trading volume of 2,085,518 shares, compared to its average volume of 2,821,609. The firm has a 50 day simple moving average of $165.52 and a 200-day simple moving average of $143.49. Target Co. has a one year low of $102.93 and a one year high of $181.86. The firm has a market cap of $76.06 billion, a PE ratio of 18.45, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. During the same quarter last year, the firm posted $1.89 EPS. The company's quarterly revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, May 14th. Target's dividend payout ratio (DPR) is presently 49.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TGT shares. Stifel Nicolaus increased their target price on shares of Target from $153.00 to $177.00 and gave the stock a "hold" rating in a report on Wednesday, March 6th. Citigroup increased their target price on shares of Target from $142.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Target from $125.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 1st. Wells Fargo & Company increased their target price on shares of Target from $165.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, March 6th. Finally, Tigress Financial raised their price objective on shares of Target from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $181.85.

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.

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