1900 Wealth Management LLC Takes Position in Target Co. (NYSE:TGT)

1900 Wealth Management LLC acquired a new stake in shares of Target Co. (NYSE:TGT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,545 shares of the retailer’s stock, valued at approximately $220,000.

Other institutional investors have also added to or reduced their stakes in the company. Beacon Financial Advisory LLC grew its stake in shares of Target by 1.0% during the fourth quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock worth $1,005,000 after buying an additional 72 shares during the last quarter. Janiczek Wealth Management LLC grew its stake in shares of Target by 18.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 494 shares of the retailer’s stock worth $70,000 after purchasing an additional 78 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in shares of Target by 4.4% in the third quarter. VisionPoint Advisory Group LLC now owns 1,887 shares of the retailer’s stock worth $209,000 after purchasing an additional 80 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of Target by 0.4% in the third quarter. iA Global Asset Management Inc. now owns 22,760 shares of the retailer’s stock worth $2,517,000 after purchasing an additional 83 shares during the last quarter. Finally, Ballast Inc. grew its stake in shares of Target by 0.8% in the fourth quarter. Ballast Inc. now owns 10,988 shares of the retailer’s stock worth $1,565,000 after purchasing an additional 85 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Citigroup boosted their price objective on shares of Target from $142.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Royal Bank of Canada boosted their price objective on shares of Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Barclays upped their price target on shares of Target from $142.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Finally, BMO Capital Markets upped their price target on shares of Target from $145.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus target price of $181.85.

Insider Activity

In other news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $8,819,598 in the last three months. Company insiders own 0.23% of the company’s stock.

Target Trading Down 0.4 %

Shares of TGT stock opened at $166.51 on Wednesday. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The company has a 50-day simple moving average of $164.45 and a two-hundred day simple moving average of $142.30. The company has a market capitalization of $76.88 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.57 and a beta of 1.14.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) 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 business had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that Target Co. will post 9.39 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio is currently 49.27%.

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.