Sequoia Financial Advisors LLC Increases Stock Position in Target Co. (NYSE:TGT)

Sequoia Financial Advisors LLC increased its position in Target Co. (NYSE:TGT) by 13.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,122 shares of the retailer’s stock after purchasing an additional 3,315 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Target were worth $4,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TGT. Triad Wealth Partners LLC purchased a new position in shares of Target in the second quarter valued at $25,000. Slocum Gordon & Co LLP purchased a new position in shares of Target in the second quarter valued at $28,000. Hobbs Group Advisors LLC bought a new position in Target during the 2nd quarter valued at $31,000. Washington Trust Advisors Inc. boosted its stake in Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its stake in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on TGT. Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective on the stock. Oppenheimer reduced their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised their price target on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group raised their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.47.

Target Stock Performance

Shares of TGT opened at $149.19 on Wednesday. Target Co. has a one year low of $105.23 and a one year high of $181.86. The company has a 50-day moving average of $152.82 and a two-hundred day moving average of $152.26. The stock has a market cap of $69.02 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last announced 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 company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period last year, the company posted $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’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 transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,348 shares of company stock worth $8,290,995. 0.23% of the stock is owned by company insiders.

About Target

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.