Tyche Wealth Partners LLC Buys Shares of 5,123 Target Co. (NYSE:TGT)

Tyche Wealth Partners LLC bought a new stake in Target Co. (NYSE:TGT) in the fourth quarter, HoldingsChannel.com reports. The fund bought 5,123 shares of the retailer’s stock, valued at approximately $730,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Target by 1.6% during the third quarter. Vanguard Group Inc. now owns 44,527,706 shares of the retailer’s stock worth $4,923,428,000 after purchasing an additional 702,565 shares in the last quarter. State Street Corp raised its holdings in Target by 4.6% during the first quarter. State Street Corp now owns 34,570,634 shares of the retailer’s stock worth $5,725,904,000 after purchasing an additional 1,529,881 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Target by 95,980.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after purchasing an additional 18,518,448 shares in the last quarter. Geode Capital Management LLC raised its holdings in Target by 1.0% during the first quarter. Geode Capital Management LLC now owns 8,300,283 shares of the retailer’s stock worth $1,371,516,000 after purchasing an additional 80,027 shares in the last quarter. Finally, FMR LLC raised its holdings in Target by 26.5% during the third quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock worth $747,699,000 after purchasing an additional 1,415,900 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT traded down $1.69 on Wednesday, reaching $163.32. The company’s stock had a trading volume of 3,450,687 shares, compared to its average volume of 2,974,175. The firm has a market cap of $75.40 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. The business has a 50-day moving average price of $162.51 and a 200 day moving average price of $140.17. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 49.27%.

Analysts Set New Price Targets

Several research firms have issued reports on TGT. UBS Group reaffirmed a “buy” rating and issued a $174.00 price target on shares of Target in a report on Tuesday, March 5th. Jefferies Financial Group upped their price target on Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. Stifel Nicolaus upped their price target on Target from $153.00 to $177.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Roth Mkm upped their price target on Target from $140.00 to $153.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Finally, BMO Capital Markets lifted their price objective on shares of Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and an average target price of $181.85.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. Corporate insiders own 0.23% of the company’s stock.

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.