Sage Mountain Advisors LLC Makes New Investment in Target Co. (NYSE:TGT)

Sage Mountain Advisors LLC bought a new position in shares of Target Co. (NYSE:TGT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,449 shares of the retailer’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Tower View Wealth Management LLC increased its stake in Target by 82.8% during the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after buying an additional 106 shares during the period. Rakuten Securities Inc. acquired a new position in Target during the 4th quarter valued at about $29,000. Impact Partnership Wealth LLC increased its stake in Target by 106.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock valued at $45,000 after buying an additional 209 shares during the period. Friedenthal Financial acquired a new position in Target during the 4th quarter valued at about $45,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Target during the 4th quarter valued at about $49,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TGT shares. Tigress Financial raised their price objective on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Royal Bank of Canada raised their target price on shares of Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Morgan Stanley raised their target price on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Roth Mkm raised their target price on shares of Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group raised their target price on shares of Target from $176.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.85.

Target Trading Down 0.4 %

NYSE:TGT opened at $166.51 on Wednesday. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The firm has a market cap of $76.88 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.57 and a beta of 1.14. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The company’s 50 day moving average is $164.45 and its 200-day moving average is $142.30.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.64%. Target’s dividend payout ratio is currently 49.27%.

Insiders Place Their Bets

In other Target news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the sale, the insider now owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock worth $8,819,598 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

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.