Target Co. (NYSE:TGT) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its position in Target Co. (NYSE:TGT) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,063 shares of the retailer’s stock after acquiring an additional 590 shares during the quarter. Wealthspire Advisors LLC’s holdings in Target were worth $2,003,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Tower View Wealth Management LLC grew its stake in shares of Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in Target during the 4th quarter worth approximately $29,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Target in the 4th quarter valued at approximately $33,000. Friedenthal Financial purchased a new position in shares of Target during the 4th quarter valued at approximately $45,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Target during the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 3.0 %

Shares of TGT traded up $4.75 during trading hours on Thursday, hitting $164.34. 2,537,731 shares of the stock traded hands, compared to its average volume of 3,663,545. The business has a fifty day moving average of $166.96 and a 200-day moving average of $146.00. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $76.03 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86.

Target (NYSE:TGT) last issued 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. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. During the same quarter last year, the firm earned $1.89 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts expect that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.68%. Target’s dividend payout ratio is presently 49.27%.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

TGT has been the subject of several recent analyst reports. Oppenheimer raised their price objective on shares of Target from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. The Goldman Sachs Group raised their price objective on shares of Target from $176.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Guggenheim increased their price objective on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. HSBC upgraded shares of Target from a “hold” rating to a “buy” rating and boosted their price target for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. Finally, Gordon Haskett raised their target price on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $181.85.

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.