Wealthfront Advisers LLC Acquires Shares of 113,059 Target Corporation $TGT

Wealthfront Advisers LLC acquired a new position in Target Corporation (NYSE:TGT) in the second quarter, Holdings Channel reports. The firm acquired 113,059 shares of the retailer’s stock, valued at approximately $14,767,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foster & Motley Inc. acquired a new stake in shares of Target in the second quarter worth $5,717,000. Main Street Financial Solutions LLC raised its position in Target by 2.9% during the second quarter. Main Street Financial Solutions LLC now owns 4,789 shares of the retailer’s stock valued at $625,000 after buying an additional 135 shares during the period. Rayburn West Financial Services LLC purchased a new stake in Target in the 2nd quarter worth about $3,887,000. First National Bank of Omaha purchased a new stake in Target in the 2nd quarter worth about $3,535,000. Finally, Hurlow Wealth Management Group Inc. acquired a new stake in Target during the 2nd quarter worth about $285,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on TGT shares. Robert W. Baird lifted their target price on Target from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Oppenheimer raised their price target on shares of Target from $140.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. UBS Group boosted their price objective on shares of Target from $144.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Target in a research note on Friday, July 31st. Finally, Bank of America reiterated an “underperform” rating and issued a $124.00 target price (up from $110.00) on shares of Target in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned 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, the company presently has an average rating of “Hold” and an average target price of $143.85.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Target News Summary

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

Target Stock Up 1.1%

Shares of Target stock opened at $152.63 on Wednesday. The firm has a market cap of $69.32 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 2.51 and a beta of 0.96. The stock has a 50-day simple moving average of $139.08 and a 200-day simple moving average of $126.98. Target Corporation has a 52-week low of $83.44 and a 52-week high of $156.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The firm had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, equities research analysts expect that Target Corporation will post 8.43 earnings per share for the current fiscal year.

Target Increases Dividend

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

Target Profile

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.