Greenwood Capital Associates LLC acquired a new position in shares of Target Corporation (NYSE:TGT – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,069 shares of the retailer’s stock, valued at approximately $2,190,000.
Other hedge funds have also bought and sold shares of the company. WFA of San Diego LLC bought a new stake in shares of Target in the 2nd quarter worth about $25,000. Jessup Wealth Management Inc purchased a new stake in Target in the 4th quarter worth about $25,000. Altshuler Shaham Ltd purchased a new stake in Target in the 4th quarter worth about $26,000. Capital Advisors Ltd. LLC lifted its stake in Target by 245.6% in the first quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer’s stock worth $33,000 after purchasing an additional 194 shares during the last quarter. Finally, Global Wealth Strategies & Associates lifted its stake in Target by 192.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.
Target Stock Up 3.8%
Shares of NYSE TGT opened at $132.44 on Thursday. Target Corporation has a 12-month low of $83.44 and a 12-month high of $142.82. The stock’s fifty day simple moving average is $128.16 and its two-hundred day simple moving average is $118.63. The stock has a market capitalization of $60.15 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.49 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87.
Target Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be issued a $1.16 dividend. This is a boost from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, August 12th. Target’s dividend payout ratio is presently 60.24%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Target in a research note on Monday, June 15th. Jefferies Financial Group raised their price target on Target from $140.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Evercore set a $130.00 price objective on Target in a report on Monday, May 18th. Wells Fargo & Company upped their price objective on Target from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Target in a research note on Friday, June 12th. Twelve analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus target price of $130.64.
Read Our Latest Research Report on Target
Insider Activity at Target
In other Target news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.
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.
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