Focus Financial Network Inc. Has $5.96 Million Holdings in Target Co. (NYSE:TGT)

Focus Financial Network Inc. lessened its position in shares of Target Co. (NYSE:TGT) by 0.7% in the third quarter, HoldingsChannel.com reports. The firm owned 38,268 shares of the retailer’s stock after selling 273 shares during the quarter. Focus Financial Network Inc.’s holdings in Target were worth $5,964,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Stephens Inc. AR grew its position in Target by 3.9% in the 3rd quarter. Stephens Inc. AR now owns 17,002 shares of the retailer’s stock valued at $2,650,000 after purchasing an additional 632 shares during the period. Reston Wealth Management LLC acquired a new stake in Target in the 3rd quarter valued at $41,000. United Asset Strategies Inc. grew its position in Target by 8.0% in the 3rd quarter. United Asset Strategies Inc. now owns 4,985 shares of the retailer’s stock valued at $777,000 after purchasing an additional 370 shares during the period. Palumbo Wealth Management LLC lifted its stake in Target by 10.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 9,300 shares of the retailer’s stock valued at $1,449,000 after acquiring an additional 876 shares in the last quarter. Finally, HM Payson & Co. lifted its stake in Target by 12.5% during the 3rd quarter. HM Payson & Co. now owns 9,467 shares of the retailer’s stock valued at $1,476,000 after acquiring an additional 1,053 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $150.75 on Friday. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The stock has a market cap of $69.45 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.92 and a beta of 1.24. The business’s fifty day moving average is $153.19 and its 200 day moving average is $151.50. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is 46.28%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TGT shares. Evercore ISI dropped their price objective on Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Morgan Stanley restated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Roth Mkm boosted their price objective on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 target price on shares of Target in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus target price of $179.47.

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.