Drive Wealth Management LLC Acquires Shares of 1,471 Target Co. (NYSE:TGT)

Drive Wealth Management LLC acquired a new stake in Target Co. (NYSE:TGTFree Report) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,471 shares of the retailer’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Berkshire Bank lifted its position in shares of Target by 4.9% during the 4th quarter. Berkshire Bank now owns 5,542 shares of the retailer’s stock valued at $789,000 after acquiring an additional 259 shares during the period. Monte Financial Group LLC lifted its position in shares of Target by 17.6% during the 4th quarter. Monte Financial Group LLC now owns 47,673 shares of the retailer’s stock valued at $6,790,000 after acquiring an additional 7,129 shares during the period. SNS Financial Group LLC lifted its position in shares of Target by 1.3% during the 4th quarter. SNS Financial Group LLC now owns 10,395 shares of the retailer’s stock valued at $1,480,000 after acquiring an additional 133 shares during the period. Essex Savings Bank lifted its position in shares of Target by 1.0% during the 4th quarter. Essex Savings Bank now owns 32,934 shares of the retailer’s stock valued at $4,690,000 after acquiring an additional 336 shares during the period. Finally, Parsons Capital Management Inc. RI lifted its position in shares of Target by 119.9% during the 4th quarter. Parsons Capital Management Inc. RI now owns 11,004 shares of the retailer’s stock valued at $1,567,000 after acquiring an additional 6,000 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,600 shares of company stock valued at $8,819,598. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TGT. Truist Financial upped their target price on Target from $142.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Tigress Financial upped their target price on Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. The Goldman Sachs Group upped their target price on Target from $176.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada upped their price objective on Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus upped their price objective on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.12.

Check Out Our Latest Analysis on Target

Target Price Performance

Target stock opened at $176.24 on Wednesday. The company has a market capitalization of $81.37 billion, a PE ratio of 19.74, a P/E/G ratio of 1.66 and a beta of 1.14. The stock has a 50-day moving average price of $156.27 and a two-hundred day moving average price of $135.87. 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 $181.86.

Target (NYSE:TGTGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. The company 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 business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Analysts expect that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.50%. Target’s payout ratio is 49.27%.

Target Company 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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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