Highland Private Wealth Management Buys 73 Shares of Target Co. (NYSE:TGT)

Highland Private Wealth Management raised its position in Target Co. (NYSE:TGTGet Rating) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,468 shares of the retailer’s stock after purchasing an additional 73 shares during the quarter. Highland Private Wealth Management’s holdings in Target were worth $207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management bought a new stake in shares of Target during the first quarter worth approximately $2,453,000. CIBC World Markets Inc. boosted its position in Target by 0.5% during the fourth quarter. CIBC World Markets Inc. now owns 23,884 shares of the retailer’s stock valued at $5,528,000 after acquiring an additional 121 shares during the last quarter. First Hawaiian Bank boosted its position in Target by 32.5% during the first quarter. First Hawaiian Bank now owns 13,533 shares of the retailer’s stock valued at $2,872,000 after acquiring an additional 3,316 shares during the last quarter. West Family Investments Inc. boosted its position in shares of Target by 18.9% during the 1st quarter. West Family Investments Inc. now owns 2,988 shares of the retailer’s stock worth $634,000 after purchasing an additional 476 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Target by 17.0% in the 1st quarter. NewEdge Advisors LLC now owns 184,821 shares of the retailer’s stock worth $39,222,000 after acquiring an additional 26,849 shares during the last quarter. Institutional investors and hedge funds own 77.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Target to an “overweight” rating in a research note on Tuesday, August 9th. Guggenheim lifted their target price on shares of Target to $190.00 in a research report on Monday, August 22nd. 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. Piper Sandler began coverage on shares of Target in a research note on Friday, July 22nd. They set a “neutral” rating and a $190.00 price objective on the stock. Finally, 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. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $193.67.

Insider Buying and Selling

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

Target Price Performance

Shares of NYSE:TGT opened at $152.96 on Friday. The business has a 50 day moving average price of $163.84 and a 200 day moving average price of $182.03. The company has a quick ratio of 0.14, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. Target Co. has a twelve month low of $137.16 and a twelve month high of $268.98. The company has a market cap of $70.40 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.99 and a beta of 1.02.

Target (NYSE:TGTGet Rating) last issued 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). Target had a return on equity of 35.15% and a net margin of 3.92%. The company had revenue of $26.04 billion during the quarter, compared to analyst estimates of $26.07 billion. During the same period in the previous year, the company posted $3.64 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts predict that Target Co. will post 8.11 earnings per share for the current year.

Target Dividend Announcement

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

About Target

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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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