Resources Management Corp CT ADV Raises Holdings in Target Co. (NYSE:TGT)

Resources Management Corp CT ADV increased its stake in shares of Target Co. (NYSE:TGT) by 21.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,469 shares of the retailer’s stock after buying an additional 2,054 shares during the quarter. Resources Management Corp CT ADV’s holdings in Target were worth $1,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Boston Partners acquired a new stake in Target in the first quarter valued at about $335,870,000. Focused Investors Fund L P acquired a new stake in Target in the first quarter valued at about $125,536,000. Swedbank AB acquired a new stake in Target in the first quarter valued at about $107,367,000. Los Angeles Capital Management LLC lifted its position in Target by 44.6% in the first quarter. Los Angeles Capital Management LLC now owns 1,765,496 shares of the retailer’s stock valued at $312,864,000 after purchasing an additional 544,920 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after acquiring an additional 470,647 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TGT. Royal Bank of Canada lifted their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Truist Financial lifted their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Stifel Nicolaus lifted their price target on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. UBS Group lifted their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Roth Mkm lifted their price objective on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.69.

Target Price Performance

Shares of NYSE:TGT opened at $155.29 on Tuesday. 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 Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The firm has a 50-day simple moving average of $148.56 and a 200 day simple moving average of $154.74. The company has a market cap of $71.84 billion, a PE ratio of 17.43, a P/E/G ratio of 1.90 and a beta of 1.24.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS 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 firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the prior year, the firm earned $1.80 EPS. Target’s quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

Insider Activity at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,114,173.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’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 value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Target 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.