FSA Wealth Management LLC Makes New $36,000 Investment in Target Co. (NYSE:TGT)

FSA Wealth Management LLC purchased a new stake in shares of Target Co. (NYSE:TGT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 232 shares of the retailer’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Target during the second quarter valued at about $25,000. Slocum Gordon & Co LLP bought a new position in shares of Target during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Target in the 2nd quarter worth approximately $31,000. Wolff Wiese Magana LLC raised its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in Target during the third quarter valued at approximately $38,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 1.7 %

TGT stock opened at $132.31 on Monday. The firm has a market cap of $60.95 billion, a PE ratio of 14.03, a PEG ratio of 2.17 and a beta of 1.24. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a fifty day simple moving average of $148.86 and a 200 day simple moving average of $148.45. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. Sell-side analysts anticipate that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.39%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein started coverage on Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price on the stock. Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. BMO Capital Markets cut their price objective on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. Finally, Daiwa America cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $160.30.

Target 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.