Target Co. (NYSE:TGT) Stake Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in Target Co. (NYSE:TGT) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,730 shares of the retailer’s stock after acquiring an additional 6,501 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Target were worth $24,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Nordea Investment Management AB raised its holdings in Target by 23.6% during the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after buying an additional 122,706 shares during the period. QRG Capital Management Inc. raised its holdings in Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after buying an additional 6,690 shares during the period. Janney Capital Management LLC acquired a new stake in Target during the 1st quarter worth about $13,958,000. Van ECK Associates Corp raised its holdings in Target by 17.3% during the 1st quarter. Van ECK Associates Corp now owns 55,392 shares of the retailer’s stock worth $9,816,000 after buying an additional 8,185 shares during the period. Finally, TAP Consulting LLC purchased a new position in Target during the 3rd quarter valued at about $2,403,000. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 target price on shares of Target in a research note on Thursday, September 19th. UBS Group lifted their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Melius Research assumed coverage on Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada lifted their target price on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Target presently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade 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 is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is owned by company insiders.

Target Stock Up 0.7 %

Shares of Target stock opened at $151.16 on Monday. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. 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 stock has a market capitalization of $69.93 billion, a P/E ratio of 16.97, a PEG ratio of 1.99 and a beta of 1.24. The stock has a 50 day moving average price of $153.38 and a two-hundred day moving average price of $151.82.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the prior year, the business earned $1.80 earnings per share. Target’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts expect that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The firm 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 2.96%. Target’s dividend payout ratio is 50.28%.

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.