WFA Asset Management Corp Boosts Stake in Target Co. (NYSE:TGT)

WFA Asset Management Corp lifted its holdings in shares of Target Co. (NYSE:TGT) by 85.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,222 shares of the retailer’s stock after acquiring an additional 1,482 shares during the quarter. WFA Asset Management Corp’s holdings in Target were worth $336,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Farther Finance Advisors LLC raised its stake in shares of Target by 34.8% in the 1st quarter. Farther Finance Advisors LLC now owns 12,389 shares of the retailer’s stock valued at $1,294,000 after purchasing an additional 3,195 shares in the last quarter. Great Waters Wealth Management raised its stake in Target by 64.8% during the first quarter. Great Waters Wealth Management now owns 2,819 shares of the retailer’s stock valued at $294,000 after buying an additional 1,108 shares in the last quarter. CMH Wealth Management LLC raised its stake in Target by 31.5% during the first quarter. CMH Wealth Management LLC now owns 61,420 shares of the retailer’s stock valued at $6,410,000 after buying an additional 14,719 shares in the last quarter. Courier Capital LLC lifted its holdings in Target by 62.4% during the 1st quarter. Courier Capital LLC now owns 9,874 shares of the retailer’s stock worth $1,030,000 after buying an additional 3,794 shares during the last quarter. Finally, Central Bank & Trust Co. grew its position in shares of Target by 406.6% in the 1st quarter. Central Bank & Trust Co. now owns 10,847 shares of the retailer’s stock worth $1,132,000 after acquiring an additional 8,706 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Target Stock Up 4.1%

Shares of NYSE:TGT opened at $97.33 on Monday. Target Co. has a 52 week low of $87.35 and a 52 week high of $167.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market cap of $44.22 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The firm has a 50 day simple moving average of $95.24 and a 200 day simple moving average of $116.08.

Target (NYSE:TGT) last issued its quarterly earnings results 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 4.06% and a return on equity of 31.11%. The business had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. During the same quarter in the prior year, the firm posted $2.03 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, research analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend was Wednesday, May 14th. Target’s payout ratio is 49.23%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho decreased their price objective on shares of Target from $92.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. The Goldman Sachs Group dropped their price objective on shares of Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. BMO Capital Markets cut their target price on shares of Target from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, May 22nd. Roth Mkm restated a “neutral” rating and issued a $122.00 target price (down from $131.00) on shares of Target in a research note on Wednesday, March 5th. Finally, DA Davidson dropped their price target on Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $116.70.

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.