Axxcess Wealth Management LLC Boosts Stake in Target Co. (NYSE:TGT)

Axxcess Wealth Management LLC grew its stake in shares of Target Co. (NYSE:TGT) by 229.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,117 shares of the retailer’s stock after buying an additional 10,524 shares during the period. Axxcess Wealth Management LLC’s holdings in Target were worth $2,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tower View Wealth Management LLC lifted its stake in Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Target in the fourth quarter worth $29,000. Friedenthal Financial bought a new stake in Target in the fourth quarter worth $45,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Target in the fourth quarter valued at about $49,000. Finally, MV Capital Management Inc. increased its position in shares of Target by 200.8% in the fourth quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock valued at $51,000 after acquiring an additional 241 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity

In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred on Thursday, March 14th. The stock was 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 of the company’s stock, valued at approximately $5,038,481.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Monday, March 11th. The stock was 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 directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. 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 ninety days. Corporate insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of TGT stock traded down $0.08 during trading hours on Friday, reaching $158.04. 3,802,181 shares of the company traded hands, compared to its average volume of 2,973,106. The firm has a 50-day moving average price of $166.46 and a 200 day moving average price of $144.72. The company has a market cap of $73.11 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.48 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 earnings per share. As a group, sell-side analysts predict that Target Co. will post 9.39 earnings per share for the current fiscal 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 issued 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 2.78%. Target’s dividend payout ratio is presently 49.27%.

Wall Street Analyst Weigh In

TGT has been the topic of a number of analyst reports. Roth Mkm boosted their price objective on shares of Target from $140.00 to $153.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. BMO Capital Markets boosted their price objective 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. TheStreet upgraded shares of Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Bank of America boosted their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus boosted their price target on shares of Target from $153.00 to $177.00 and gave the company a “hold” 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.85.

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.