Wealth Alliance Raises Position in Target Co. (NYSE:TGT)

Wealth Alliance grew its stake in shares of Target Co. (NYSE:TGTFree Report) by 76.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,177 shares of the retailer’s stock after acquiring an additional 1,373 shares during the period. Wealth Alliance’s holdings in Target were worth $351,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Plancorp LLC lifted its position in shares of Target by 2.1% during the first quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock worth $535,000 after acquiring an additional 53 shares in the last quarter. Financial Architects Inc lifted its position in shares of Target by 5.1% during the second quarter. Financial Architects Inc now owns 1,726 shares of the retailer’s stock worth $228,000 after acquiring an additional 84 shares in the last quarter. Cary Street Partners Asset Management LLC lifted its position in shares of Target by 0.6% during the second quarter. Cary Street Partners Asset Management LLC now owns 14,734 shares of the retailer’s stock worth $1,943,000 after acquiring an additional 84 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of Target by 5.8% during the second quarter. Inspire Advisors LLC now owns 1,550 shares of the retailer’s stock worth $204,000 after acquiring an additional 85 shares in the last quarter. Finally, MidWestOne Financial Group Inc. lifted its position in shares of Target by 0.9% during the first quarter. MidWestOne Financial Group Inc. now owns 10,200 shares of the retailer’s stock worth $2,164,000 after acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 78.33% of the company’s stock.

Insider Buying and Selling

In related news, insider Matthew L. Zabel sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $131.33, for a total value of $525,320.00. Following the sale, the insider now directly owns 16,486 shares of the company’s stock, valued at $2,165,106.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, insider Matthew L. Zabel sold 4,000 shares of Target stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $131.33, for a total transaction of $525,320.00. Following the sale, the insider now directly owns 16,486 shares of the company’s stock, valued at approximately $2,165,106.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Don H. Liu sold 16,000 shares of Target stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $130.00, for a total value of $2,080,000.00. Following the sale, the insider now directly owns 48,882 shares in the company, valued at $6,354,660. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock valued at $3,127,520 over the last ninety days. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TGT. TD Cowen downgraded Target from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $161.00 to $148.00 in a research report on Thursday, November 16th. Roth Mkm reiterated a “neutral” rating and issued a $140.00 price objective on shares of Target in a research report on Thursday, November 16th. Telsey Advisory Group increased their price objective on Target from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 16th. Stifel Nicolaus increased their price objective on Target from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Thursday, November 16th. Finally, Morgan Stanley upgraded Target from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $140.00 to $165.00 in a research report on Tuesday, January 16th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Target currently has an average rating of “Moderate Buy” and an average price target of $156.15.

Read Our Latest Analysis on TGT

Target Stock Down 0.6 %

NYSE TGT opened at $146.53 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.86 and a quick ratio of 0.18. The stock has a market capitalization of $67.65 billion, a PE ratio of 18.69, a PEG ratio of 1.13 and a beta of 1.11. Target Co. has a 1 year low of $102.93 and a 1 year high of $177.29. The business’s 50-day moving average is $140.42 and its 200 day moving average is $127.37.

Target (NYSE:TGTGet Free Report) last posted its earnings results on Wednesday, November 15th. The retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.62. The company had revenue of $25 billion for the quarter, compared to analysts’ expectations of $25.28 billion. Target had a return on equity of 30.69% and a net margin of 3.40%. Target’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.54 earnings per share. Sell-side analysts forecast that Target Co. will post 8.34 earnings per share for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 10th. Investors of record on Wednesday, February 21st will be paid a $1.10 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $4.40 annualized dividend and a dividend yield of 3.00%. Target’s payout ratio is presently 56.12%.

About Target

(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.

See Also

Institutional Ownership by Quarter for Target (NYSE:TGT)

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