Affiance Financial LLC Buys 679 Shares of Target Co. (NYSE:TGT)

Affiance Financial LLC grew its stake in shares of Target Co. (NYSE:TGT) by 5.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 13,089 shares of the retailer’s stock after purchasing an additional 679 shares during the period. Target comprises approximately 0.8% of Affiance Financial LLC’s portfolio, making the stock its 24th biggest position. Affiance Financial LLC’s holdings in Target were worth $1,399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. E&G Advisors LP bought a new stake in Target during the 3rd quarter worth approximately $238,000. Cypress Capital Group bought a new stake in Target during the 3rd quarter worth approximately $871,000. Pacer Advisors Inc. increased its holdings in Target by 10.8% during the 3rd quarter. Pacer Advisors Inc. now owns 54,660 shares of the retailer’s stock worth $5,844,000 after purchasing an additional 5,344 shares in the last quarter. Legacy Private Trust Co. increased its holdings in Target by 41.6% during the 3rd quarter. Legacy Private Trust Co. now owns 58,521 shares of the retailer’s stock worth $6,256,000 after purchasing an additional 17,207 shares in the last quarter. Finally, We Are One Seven LLC increased its holdings in Target by 23.4% during the 3rd quarter. We Are One Seven LLC now owns 9,528 shares of the retailer’s stock worth $1,019,000 after purchasing an additional 1,806 shares in the last quarter. 81.80% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Don H. Liu sold 4,140 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $99.92, for a total value of $413,668.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Cathy R. Smith sold 8,412 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $104.40, for a total value of $878,212.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,478 shares of company stock worth $8,915,363. 0.24% of the stock is owned by company insiders.

Target stock traded up $1.42 during trading on Friday, hitting $111.99. The stock had a trading volume of 104,103 shares, compared to its average volume of 4,113,514. Target Co. has a 1 year low of $60.15 and a 1 year high of $111.25. The company has a quick ratio of 0.21, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average is $107.22 and its two-hundred day moving average is $88.75. The stock has a market cap of $55.45 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.49 and a beta of 0.54.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, beating the consensus estimate of $1.61 by $0.21. Target had a return on equity of 27.43% and a net margin of 4.10%. The business had revenue of $18.42 billion for the quarter, compared to the consensus estimate of $18.32 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. Target’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Target Co. will post 6.15 EPS for the current fiscal year.

Target declared that its board has approved a stock repurchase plan on Thursday, September 19th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the retailer to buy up to 9.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.64 annualized dividend and a yield of 2.36%. Target’s payout ratio is 48.98%.

Several equities analysts have recently issued reports on the company. Deutsche Bank raised Target from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $99.00 in a report on Monday, August 5th. Barclays set a $115.00 target price on Target and gave the company a “buy” rating in a report on Wednesday, August 21st. Bank of America upped their target price on Target from $105.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. set a $115.00 target price on Target and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $117.00 target price (up from $102.00) on shares of Target in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $105.21.

Target 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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