Resonant Capital Advisors LLC Grows Position in Target Co. (NYSE:TGT)

Resonant Capital Advisors LLC raised its position in Target Co. (NYSE:TGT) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,300 shares of the retailer’s stock after acquiring an additional 108 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Target were worth $358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after buying an additional 51,639 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Target during the 1st quarter worth about $38,000. Harbor Investment Advisory LLC lifted its stake in Target by 81.5% during the first quarter. Harbor Investment Advisory LLC now owns 1,886 shares of the retailer’s stock worth $334,000 after purchasing an additional 847 shares during the last quarter. Austin Private Wealth LLC boosted its holdings in Target by 12.3% in the first quarter. Austin Private Wealth LLC now owns 1,756 shares of the retailer’s stock valued at $308,000 after purchasing an additional 193 shares in the last quarter. Finally, Annex Advisory Services LLC purchased a new position in Target in the first quarter valued at approximately $200,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Target stock opened at $156.84 on Monday. The firm has a market capitalization of $72.56 billion, a PE ratio of 17.60, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The firm’s 50-day simple moving average is $152.25 and its 200 day simple moving average is $152.57. 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 announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given 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 2.86%. Target’s dividend payout ratio is currently 50.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TGT. TD Cowen boosted their price objective 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. JPMorgan Chase & Co. raised their price objective on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Evercore ISI upped their target price on Target from $158.00 to $160.00 and gave the company an “inline” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, August 26th. Finally, Piper Sandler began coverage on shares of Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and an average price target of $179.69.

Insider Activity

In other news, CAO Matthew A. Liegel sold 1,000 shares of Target 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 completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction 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 owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of Target 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 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 position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 over the last three months. 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.