Kestra Investment Management LLC Makes New $776,000 Investment in Target Co. (NYSE:TGT)

Kestra Investment Management LLC acquired a new stake in shares of Target Co. (NYSE:TGT) during the 2nd quarter, Holdings Channel reports. The fund acquired 5,240 shares of the retailer’s stock, valued at approximately $776,000.

A number of other large investors also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in shares of Target in the second quarter valued at about $25,000. Washington Trust Advisors Inc. raised its stake in Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Slocum Gordon & Co LLP bought a new position in Target in the 2nd quarter worth approximately $28,000. Retirement Group LLC grew its holdings in Target by 85.0% during the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after buying an additional 91 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Target during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated 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 sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was 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 owns 7,276 shares in the company, valued at $1,114,173.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The shares were 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 owns 123,551 shares in the company, valued at $19,418,510.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is currently owned by corporate insiders.

Target Trading Up 0.4 %

NYSE TGT opened at $155.86 on Tuesday. The stock has a market cap of $72.11 billion, a PE ratio of 17.49, a PEG ratio of 2.00 and a beta of 1.24. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company’s 50-day moving average price is $148.85 and its 200-day moving average price is $154.33. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued 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 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 the consensus estimate of $25.19 billion. During the same period in the prior year, the firm earned $1.80 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

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 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is 50.28%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TGT shares. TD Cowen upped their target price on shares of 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 increased their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Royal Bank of Canada raised their price objective on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company boosted their target price on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Citigroup raised their price target on Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Target Company Profile

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.