Transform Wealth LLC Acquires 232 Shares of Target Co. (NYSE:TGT)

Transform Wealth LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 9.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,598 shares of the retailer’s stock after buying an additional 232 shares during the period. Transform Wealth LLC’s holdings in Target were worth $405,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in Target by 6.8% in the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after purchasing an additional 440,307 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Target by 17.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after purchasing an additional 470,647 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Target by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock valued at $461,031,000 after purchasing an additional 435,229 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in Target by 9.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after purchasing an additional 272,521 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were 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 in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $158.88 on Thursday. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The stock has a market capitalization of $73.50 billion, a P/E ratio of 17.83, a PEG ratio of 1.99 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 firm’s 50 day moving average is $151.39 and its 200 day moving average is $153.02.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping 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 period last year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is presently 50.28%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Oppenheimer decreased their price objective on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. TD Cowen raised their target price on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Stifel Nicolaus raised their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.69.

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.