Independence Bank of Kentucky Has $1.01 Million Position in Target Co. (NYSE:TGT)

Independence Bank of Kentucky grew its stake in Target Co. (NYSE:TGTFree Report) by 35.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,054 shares of the retailer’s stock after buying an additional 1,838 shares during the period. Independence Bank of Kentucky’s holdings in Target were worth $1,005,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TGT. Welch Group LLC increased its position in Target by 0.5% during the 4th quarter. Welch Group LLC now owns 33,140 shares of the retailer’s stock valued at $4,720,000 after purchasing an additional 180 shares during the period. Drive Wealth Management LLC acquired a new stake in shares of Target during the fourth quarter worth $209,000. Berkshire Bank raised its stake in Target by 4.9% during the fourth quarter. Berkshire Bank now owns 5,542 shares of the retailer’s stock worth $789,000 after buying an additional 259 shares during the last quarter. Monte Financial Group LLC lifted its holdings in Target by 17.6% in the fourth quarter. Monte Financial Group LLC now owns 47,673 shares of the retailer’s stock valued at $6,790,000 after buying an additional 7,129 shares during the period. Finally, SNS Financial Group LLC lifted its holdings in Target by 1.3% in the fourth quarter. SNS Financial Group LLC now owns 10,395 shares of the retailer’s stock valued at $1,480,000 after buying an additional 133 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Target

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TGT. Bank of America increased their price target on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Stifel Nicolaus lifted their target price on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Guggenheim increased their price target on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Evercore ISI raised their price objective on shares of Target from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. Finally, Barclays boosted their target price on shares of Target from $142.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Eleven 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 company has an average rating of “Moderate Buy” and a consensus price target of $180.12.

Get Our Latest Stock Analysis on TGT

Target Stock Down 0.4 %

Shares of NYSE:TGT opened at $175.51 on Thursday. The stock has a market cap of $81.03 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 1.67 and a beta of 1.14. The business’s 50 day moving average is $156.98 and its 200 day moving average is $136.25. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGTGet Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. On average, sell-side analysts forecast that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders 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 yield of 2.51%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is 49.27%.

Target Profile

(Free Report)

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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Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGTFree Report).

Institutional Ownership by Quarter for Target (NYSE:TGT)

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