9258 Wealth Management LLC Grows Stock Position in Target Co. (NYSE:TGT)

9258 Wealth Management LLC increased its stake in Target Co. (NYSE:TGT) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,195 shares of the retailer’s stock after buying an additional 148 shares during the quarter. 9258 Wealth Management LLC’s holdings in Target were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Triad Wealth Partners LLC bought a new stake in shares of Target in the 2nd quarter worth about $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Target in the 4th quarter worth about $28,000. Private Wealth Management Group LLC bought a new stake in Target in the fourth quarter worth about $29,000. Scarborough Advisors LLC purchased a new position in shares of Target during the fourth quarter valued at approximately $29,000. Finally, Godsey & Gibb Inc. boosted its position in shares of Target by 148.6% during the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after buying an additional 104 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Target Stock Down 0.4 %

Shares of Target stock opened at $151.90 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company has a market cap of $70.27 billion, a P/E ratio of 17.05, a PEG ratio of 1.99 and a beta of 1.19. The firm’s 50 day moving average price is $147.57 and its 200-day moving average price is $155.05. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Target Co. will post 9.49 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $1.12 dividend. The ex-dividend date is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 2.95%. Target’s dividend payout ratio (DPR) is 50.28%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research analyst reports. Robert W. Baird reissued an “outperform” rating and set a $190.00 price target on shares of Target in a research note on Thursday, May 23rd. Piper Sandler started coverage on Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price for the company. Evercore ISI upped their price target on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a report on Thursday, August 22nd. Roth Mkm raised their price target on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Finally, TD Cowen boosted their price objective on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $179.68.

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.