Perigon Wealth Management LLC Takes $1.40 Million Position in Target Corporation $TGT

Perigon Wealth Management LLC acquired a new position in shares of Target Corporation (NYSE:TGT) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 10,731 shares of the retailer’s stock, valued at approximately $1,402,000.

Several other large investors have also recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI acquired a new stake in Target in the second quarter valued at $3,239,000. Trust Co. of Vermont acquired a new position in shares of Target during the 2nd quarter worth $1,680,000. Principle Wealth Partners LLC purchased a new position in shares of Target in the 2nd quarter valued at about $317,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Target in the 2nd quarter valued at about $150,784,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Target in the second quarter valued at about $3,675,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TGT. Telsey Advisory Group boosted their price objective on shares of Target from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday. Sanford C. Bernstein lifted their price target on shares of Target from $124.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Freedom Capital lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. Guggenheim upped their price target on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Target in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $143.85.

Trending Headlines about Target

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $152.63 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average price is $139.08 and its 200 day moving average price is $126.98. Target Corporation has a 52 week low of $83.44 and a 52 week high of $156.47. The stock has a market cap of $69.32 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.51 and a beta of 0.96.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The company had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. As a group, research analysts forecast that Target Corporation will post 8.43 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is currently 61.29%.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.