Harmony Asset Management LLC Has $484,000 Stake in Target Co. (NYSE:TGT)

Harmony Asset Management LLC raised its stake in shares of Target Co. (NYSE:TGT) by 32.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,271 shares of the retailer’s stock after purchasing an additional 800 shares during the quarter. Harmony Asset Management LLC’s holdings in Target were worth $484,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Commonwealth Financial Services LLC increased its stake in Target by 25.9% during the second quarter. Commonwealth Financial Services LLC now owns 1,793 shares of the retailer’s stock valued at $267,000 after acquiring an additional 369 shares during the period. DRW Securities LLC boosted its holdings in Target by 20.0% during the second quarter. DRW Securities LLC now owns 3,184 shares of the retailer’s stock valued at $471,000 after purchasing an additional 530 shares in the last quarter. Edge Capital Group LLC grew its holdings in shares of Target by 4.5% in the 2nd quarter. Edge Capital Group LLC now owns 30,221 shares of the retailer’s stock worth $4,474,000 after purchasing an additional 1,299 shares during the last quarter. RW Investment Management LLC increased its position in shares of Target by 4.1% during the 2nd quarter. RW Investment Management LLC now owns 4,138 shares of the retailer’s stock worth $613,000 after purchasing an additional 163 shares in the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in Target during the 2nd quarter valued at about $1,865,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TGT shares. JPMorgan Chase & Co. upped their price objective on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. TD Cowen increased their price target on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Jefferies Financial Group raised their price target on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Daiwa America upgraded Target to a “strong-buy” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.68.

Target Price Performance

Shares of TGT opened at $154.75 on Monday. 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 Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock has a market capitalization of $71.59 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a 50 day moving average of $148.48 and a 200-day moving average of $154.85.

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

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Insider Transactions at Target

In related 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on 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 approximately $48,210,768.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

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.