Brookstone Capital Management Makes New $2.45 Million Investment in Target Co. (NYSE:TGT)

Brookstone Capital Management bought a new position in Target Co. (NYSE:TGTGet Rating) during the 1st quarter, Holdings Channel.com reports. The fund bought 10,699 shares of the retailer’s stock, valued at approximately $2,453,000.

Other large investors have also recently made changes to their positions in the company. CIBC World Markets Inc. boosted its position in Target by 0.5% in the fourth quarter. CIBC World Markets Inc. now owns 23,884 shares of the retailer’s stock worth $5,528,000 after purchasing an additional 121 shares during the last quarter. First Hawaiian Bank boosted its position in Target by 32.5% in the first quarter. First Hawaiian Bank now owns 13,533 shares of the retailer’s stock worth $2,872,000 after purchasing an additional 3,316 shares during the last quarter. FDx Advisors Inc. lifted its position in shares of Target by 12.9% during the 4th quarter. FDx Advisors Inc. now owns 22,374 shares of the retailer’s stock valued at $5,178,000 after buying an additional 2,549 shares in the last quarter. Forum Financial Management LP purchased a new position in shares of Target during the 4th quarter valued at about $601,000. Finally, Strategy Asset Managers LLC lifted its position in shares of Target by 10.5% during the 3rd quarter. Strategy Asset Managers LLC now owns 34,259 shares of the retailer’s stock valued at $7,838,000 after buying an additional 3,244 shares in the last quarter. 81.83% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Cara A. Sylvester sold 2,030 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total transaction of $507,500.00. Following the transaction, the insider now owns 7,891 shares of the company’s stock, valued at approximately $1,972,750. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Fiddelke sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $210.19, for a total value of $1,050,950.00. Following the transaction, the insider now directly owns 31,130 shares in the company, valued at approximately $6,543,214.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,694 shares of company stock worth $14,055,746. Corporate insiders own 0.29% of the company’s stock.

NYSE:TGT opened at $140.81 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. Target Co. has a 1 year low of $138.58 and a 1 year high of $268.98. The stock’s 50 day simple moving average is $190.88 and its two-hundred day simple moving average is $209.86. The company has a market cap of $65.29 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.56 and a beta of 0.96.

Target (NYSE:TGTGet Rating) last released its quarterly earnings data on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). The firm had revenue of $24.83 billion during the quarter, compared to the consensus estimate of $24.48 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.69 EPS. As a group, analysts anticipate that Target Co. will post 8.7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. The ex-dividend date is Tuesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.07%. This is an increase from Target’s previous quarterly dividend of $0.90. Target’s payout ratio is currently 29.85%.

A number of research analysts have recently weighed in on TGT shares. Evercore ISI started coverage on Target in a research report on Friday, February 25th. They set a “hold” rating and a $235.00 price objective on the stock. StockNews.com cut Target from a “buy” rating to a “hold” rating in a research report on Saturday, May 28th. Barclays lowered their price objective on Target from $200.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 8th. Telsey Advisory Group lowered their price objective on Target from $200.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 8th. Finally, Morgan Stanley lowered their price target on Target from $255.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 8th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.81.

Target Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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