Mattern Wealth Management LLC Purchases New Position in Target Co. (NYSE:TGT)

Mattern Wealth Management LLC purchased a new stake in shares of Target Co. (NYSE:TGT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,776 shares of the retailer’s stock, valued at approximately $433,000.

Several other hedge funds have also recently made changes to their positions in TGT. Wellington Management Group LLP raised its stake in shares of Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after acquiring an additional 51,639 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Target in the 1st quarter worth about $38,000. Harbor Investment Advisory LLC lifted its stake in Target by 81.5% in the first quarter. Harbor Investment Advisory LLC now owns 1,886 shares of the retailer’s stock worth $334,000 after purchasing an additional 847 shares during the last quarter. Austin Private Wealth LLC boosted its position in shares of Target by 12.3% during the first quarter. Austin Private Wealth LLC now owns 1,756 shares of the retailer’s stock valued at $308,000 after buying an additional 193 shares during the period. Finally, Annex Advisory Services LLC bought a new position in shares of Target during the first quarter valued at approximately $200,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

Target Stock Performance

NYSE TGT traded down $2.13 on Tuesday, hitting $148.78. 1,129,499 shares of the company’s stock traded hands, compared to its average volume of 3,945,480. The firm has a market capitalization of $68.83 billion, a PE ratio of 16.77, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The firm’s 50-day moving average price is $152.57 and its two-hundred day moving average price is $152.42. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.80 earnings per share. As a group, analysts expect that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.01%. Target’s payout ratio is 50.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $180.00 price target on shares of Target in a research note on Wednesday, August 21st. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Stifel Nicolaus lifted their target price on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler initiated coverage on shares of Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and a consensus target price of $179.47.

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.