ZRC Wealth Management LLC Purchases 1,595 Shares of Target Co. (NYSE:TGT)

ZRC Wealth Management LLC raised its position in Target Co. (NYSE:TGTFree Report) by 88.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,404 shares of the retailer’s stock after buying an additional 1,595 shares during the quarter. ZRC Wealth Management LLC’s holdings in Target were worth $485,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its position in Target by 95,980.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after acquiring an additional 18,518,448 shares in the last quarter. Norges Bank bought a new stake in Target in the fourth quarter worth $725,870,000. Clearbridge Investments LLC raised its holdings in Target by 37,301.2% in the 3rd quarter. Clearbridge Investments LLC now owns 1,698,764 shares of the retailer’s stock worth $187,832,000 after acquiring an additional 1,694,222 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Target by 252.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,166,161 shares of the retailer’s stock valued at $358,782,000 after acquiring an additional 1,551,551 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Target by 4.6% in the first quarter. State Street Corp now owns 34,570,634 shares of the retailer’s stock worth $5,725,904,000 after acquiring an additional 1,529,881 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 0.1 %

Shares of NYSE:TGT opened at $168.41 on Monday. The company has a 50-day moving average price of $151.96 and a 200 day moving average price of $133.68. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. Target Co. has a 12 month low of $102.93 and a 12 month high of $175.53. The company has a market cap of $77.75 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.58 and a beta of 1.13.

Target (NYSE:TGTGet Free Report) last announced its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (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 analyst estimates of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.89 earnings per share. As a group, equities research analysts predict that Target Co. will post 9.39 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 49.27%.

Analysts Set New Price Targets

TGT has been the topic of several research reports. Wells Fargo & Company raised their target price on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft raised Target from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $206.00 in a research report on Wednesday, March 6th. Stifel Nicolaus upped their price target on shares of Target from $153.00 to $177.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Truist Financial raised their price objective on shares of Target from $142.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Finally, DA Davidson upped their target price on shares of Target from $167.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $178.38.

Get Our Latest Stock Report on TGT

Insider Activity at Target

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

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.

See Also

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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