Farther Finance Advisors LLC Raises Stock Position in Target Co. (NYSE:TGT)

Farther Finance Advisors LLC lifted its position in shares of Target Co. (NYSE:TGT) by 19.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,976 shares of the retailer’s stock after acquiring an additional 1,431 shares during the quarter. Farther Finance Advisors LLC’s holdings in Target were worth $1,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. QRG Capital Management Inc. grew its holdings in Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after purchasing an additional 6,690 shares during the last quarter. TAP Consulting LLC acquired a new stake in Target in the 3rd quarter valued at about $2,403,000. Janus Henderson Group PLC increased its holdings in Target by 20.5% during the 1st quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock valued at $38,484,000 after acquiring an additional 36,941 shares in the last quarter. Eagle Rock Investment Company LLC raised its position in Target by 166.3% during the third quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock worth $2,522,000 after acquiring an additional 10,103 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Target in the first quarter valued at about $107,367,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.15% of the company’s stock.

Target Price Performance

TGT opened at $150.84 on Monday. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The firm has a market cap of $69.49 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.94 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $153.04 and a 200 day simple moving average of $151.23.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the firm earned $1.80 EPS. Target’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that Target Co. will post 9.54 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.97%. Target’s dividend payout ratio (DPR) is presently 46.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price target on shares of Target in a report on Wednesday, August 21st. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Monday, August 26th. Roth Mkm boosted their target price on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 price target on shares of Target in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target has an average rating of “Moderate Buy” and an average target price of $179.47.

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.