Alpha Cubed Investments LLC Takes Position in Target Co. (NYSE:TGT)

Alpha Cubed Investments LLC bought a new stake in Target Co. (NYSE:TGT) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,328 shares of the retailer’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in Target in the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Target in the 4th quarter valued at $28,000. Slocum Gordon & Co LLP bought a new stake in Target during the 2nd quarter valued at $28,000. Scarborough Advisors LLC acquired a new position in Target during the fourth quarter worth $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in Target during the second quarter worth $31,000. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

NYSE TGT opened at $151.32 on Wednesday. The firm has a market cap of $70.01 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. 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’s 50 day moving average is $149.15 and its 200-day moving average is $153.72. Target Co. has a 12-month low of $103.74 and a 12-month high of $181.86.

Target (NYSE:TGT) last posted its 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. The firm had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.80 earnings per share. Sell-side analysts predict that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

Analysts Set New Price Targets

TGT has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Citigroup increased their price objective on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company lifted their target price on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Bank of America increased their price target on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Insider Transactions at Target

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 shares were 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 of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction 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 sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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 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.