Connecticut Wealth Management LLC Increases Position in Target Co. (NYSE:TGT)

Connecticut Wealth Management LLC increased its stake in shares of Target Co. (NYSE:TGT) by 99.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,651 shares of the retailer’s stock after purchasing an additional 3,309 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Target were worth $947,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TGT. Avidian Wealth Solutions LLC increased its position in shares of Target by 5.9% during the fourth quarter. Avidian Wealth Solutions LLC now owns 4,736 shares of the retailer’s stock worth $675,000 after purchasing an additional 264 shares in the last quarter. AJOVista LLC purchased a new stake in Target in the fourth quarter valued at about $134,000. VeraBank N.A. acquired a new stake in Target in the fourth quarter worth about $230,000. Sapient Capital LLC purchased a new stake in shares of Target during the fourth quarter worth about $343,000. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Target by 229.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 15,117 shares of the retailer’s stock valued at $2,153,000 after acquiring an additional 10,524 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,600 shares of company stock worth $8,819,598. Insiders own 0.23% of the company’s stock.

Target Price Performance

Target stock traded down $0.08 during midday trading on Friday, reaching $158.04. The company had a trading volume of 3,802,181 shares, compared to its average volume of 2,973,106. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a market capitalization of $73.11 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.48 and a beta of 1.17. The firm’s fifty day simple moving average is $166.46 and its 200-day simple moving average is $145.19.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. As a group, equities analysts anticipate that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.78%. Target’s dividend payout ratio is presently 49.27%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TGT. Citigroup boosted their target price on shares of Target from $142.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Gordon Haskett lifted their price target on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. UBS Group reissued a “buy” rating and issued a $174.00 price objective on shares of Target in a report on Tuesday, March 5th. BMO Capital Markets lifted their target price on Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Finally, Morgan Stanley increased their price target on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.85.

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.