Phillips Wealth Planners LLC Raises Stock Holdings in Target Corporation (NYSE:TGT)

Phillips Wealth Planners LLC boosted its holdings in shares of Target Corporation (NYSE:TGT) by 29.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,862 shares of the retailer’s stock after purchasing an additional 646 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Target were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TGT. Hopwood Financial Services Inc. acquired a new position in shares of Target during the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. acquired a new position in shares of Target during the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC raised its holdings in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after acquiring an additional 85 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Target during the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Target during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider now directly owns 246,453 shares of the company’s stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research analyst reports. Roth Capital set a $122.00 target price on Target in a report on Wednesday, March 5th. UBS Group reduced their target price on Target from $170.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Barclays started coverage on Target in a report on Thursday, May 22nd. They set an “equal weight” rating for the company. Sanford C. Bernstein cut Target from a “market perform” rating to an “underperform” rating and cut their price target for the company from $97.00 to $82.00 in a report on Monday, May 12th. Finally, Morgan Stanley cut their price target on Target from $160.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $116.70.

Target Trading Down 0.8%

Shares of NYSE TGT opened at $96.71 on Thursday. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $95.95 and a 200-day simple moving average of $113.32. The stock has a market capitalization of $43.94 billion, a PE ratio of 10.63, a PEG ratio of 2.81 and a beta of 1.22.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same period in the previous year, the firm posted $2.03 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.63%. Target’s payout ratio is presently 49.23%.

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.