Modus Advisors LLC Purchases 2,793 Shares of Target Co. (NYSE:TGT)

Modus Advisors LLC boosted its position in shares of Target Co. (NYSE:TGT) by 96.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,677 shares of the retailer’s stock after acquiring an additional 2,793 shares during the period. Modus Advisors LLC’s holdings in Target were worth $885,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advocate Group LLC increased its holdings in shares of Target by 1.8% during the third quarter. Advocate Group LLC now owns 57,482 shares of the retailer’s stock valued at $8,959,000 after acquiring an additional 1,025 shares in the last quarter. Somerset Trust Co increased its holdings in shares of Target by 1.1% in the third quarter. Somerset Trust Co now owns 16,797 shares of the retailer’s stock valued at $2,618,000 after purchasing an additional 188 shares during the period. Sanibel Captiva Trust Company Inc. raised its stake in shares of Target by 8.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 63,116 shares of the retailer’s stock worth $9,837,000 after purchasing an additional 4,746 shares during the last quarter. Wedmont Private Capital increased its holdings in Target by 3.7% in the 3rd quarter. Wedmont Private Capital now owns 5,081 shares of the retailer’s stock worth $757,000 after buying an additional 179 shares during the period. Finally, Marcum Wealth LLC increased its holdings in Target by 4.3% in the 3rd quarter. Marcum Wealth LLC now owns 4,554 shares of the retailer’s stock worth $710,000 after buying an additional 188 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. TD Cowen raised their price target 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. Royal Bank of Canada increased their target price on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, UBS Group lifted their price target on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Target Trading Up 1.1 %

Shares of Target stock traded up $1.75 during trading hours on Thursday, hitting $156.08. The company’s stock had a trading volume of 1,037,869 shares, compared to its average volume of 3,974,922. The stock has a market cap of $72.21 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 2.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The firm has a fifty day moving average of $149.30 and a 200-day moving average of $153.60.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share 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 company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the firm posted $1.80 earnings per share. Target’s revenue was up 1.0% compared to the same quarter last year. Research analysts forecast that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.87%. Target’s dividend payout ratio is presently 50.28%.

Insider Activity at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents 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, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 in the last three months. 0.23% of the stock is owned by company 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.