Allworth Financial LP Increases Stock Holdings in Target Co. (NYSE:TGT)

Allworth Financial LP boosted its stake in Target Co. (NYSE:TGTGet Rating) by 6.6% in the second quarter, Holdings Channel reports. The fund owned 14,042 shares of the retailer’s stock after buying an additional 866 shares during the quarter. Allworth Financial LP’s holdings in Target were worth $1,983,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Landmark Wealth Management LLC acquired a new stake in Target during the 1st quarter valued at $25,000. Blume Capital Management Inc. purchased a new position in Target in the 1st quarter valued at about $25,000. Delos Wealth Advisors LLC acquired a new stake in shares of Target during the fourth quarter valued at about $29,000. Roble Belko & Company Inc purchased a new stake in shares of Target during the first quarter worth about $32,000. Finally, Cornerstone Advisory LLC acquired a new position in shares of Target in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 77.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TGT shares. Wells Fargo & Company upgraded Target to an “overweight” rating in a research note on Tuesday, August 9th. Bank of America upped their price target on shares of Target from $165.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, August 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Target from $195.00 to $193.00 and set a “buy” rating for the company in a report on Thursday, August 18th. MKM Partners cut their target price on shares of Target from $163.00 to $161.00 and set a “neutral” rating on the stock in a research note on Thursday, August 18th. Finally, StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a research note on Saturday, May 28th. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.67.

Target Stock Down 3.8 %

Shares of Target stock opened at $152.96 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14. Target Co. has a 1-year low of $137.16 and a 1-year high of $268.98. The business’s fifty day moving average price is $163.84 and its two-hundred day moving average price is $182.03. The company has a market capitalization of $70.40 billion, a P/E ratio of 17.38, a PEG ratio of 2.00 and a beta of 1.02.

Target (NYSE:TGTGet Rating) last announced its earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $26.07 billion. Target had a net margin of 3.92% and a return on equity of 35.15%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.64 EPS. As a group, research analysts forecast that Target Co. will post 8.11 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.82%. Target’s payout ratio is 49.09%.

Insider Buying and Selling

In other news, CAO Matthew A. Liegel sold 1,226 shares of Target stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at approximately $488,725.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the sale, the insider now directly owns 118,425 shares in the company, valued at $19,660,918.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew A. Liegel sold 1,226 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total value of $213,078.80. Following the sale, the chief accounting officer now owns 2,812 shares of the company’s stock, valued at approximately $488,725.60. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Target Profile

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Further Reading

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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