High Note Wealth LLC Invests $209,000 in Target Co. (NYSE:TGT)

High Note Wealth LLC bought a new position in shares of Target Co. (NYSE:TGT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,467 shares of the retailer’s stock, valued at approximately $209,000.

Several other large investors have also added to or reduced their stakes in TGT. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Target by 3,577.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares of the retailer’s stock worth $312,000 after buying an additional 1,431 shares during the last quarter. Zions Bancorporation N.A. grew its stake in Target by 3.3% during the first quarter. Zions Bancorporation N.A. now owns 3,045 shares of the retailer’s stock worth $646,000 after purchasing an additional 96 shares during the period. Covestor Ltd grew its stake in Target by 131.7% during the first quarter. Covestor Ltd now owns 702 shares of the retailer’s stock worth $149,000 after purchasing an additional 399 shares during the period. Merit Financial Group LLC acquired a new stake in Target in the first quarter valued at approximately $208,000. Finally, Ergoteles LLC grew its stake in Target by 191.5% in the first quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock valued at $2,503,000 after acquiring an additional 7,748 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 1.2 %

TGT opened at $174.67 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The business has a 50 day simple moving average of $153.23 and a 200-day simple moving average of $134.36. The stock has a market capitalization of $80.64 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.62 and a beta of 1.13. Target Co. has a 12 month low of $102.93 and a 12 month high of $175.53.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.89 EPS. On average, equities analysts anticipate 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. Investors of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is currently 49.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BMO Capital Markets raised their target price on Target from $145.00 to $170.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. increased their price target on Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. DA Davidson upped their price target on Target from $167.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Morgan Stanley upped their price objective on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, TheStreet upgraded shares of Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Eleven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.73.

Insider Activity at Target

In related news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now directly owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, 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. Insiders sold 52,600 shares of company stock valued at $8,819,598 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

About Target

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.