Mattern Wealth Management LLC Acquires Shares of 2,776 Target Co. (NYSE:TGT)

Mattern Wealth Management LLC bought a new position in Target Co. (NYSE:TGT) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,776 shares of the retailer’s stock, valued at approximately $433,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Oakworth Capital Inc. raised its holdings in shares of Target by 12.0% during the 3rd quarter. Oakworth Capital Inc. now owns 2,100 shares of the retailer’s stock worth $327,000 after acquiring an additional 225 shares during the period. Shariaportfolio Inc. acquired a new stake in Target during the third quarter worth about $1,690,000. Waterway Wealth Management LLC purchased a new position in Target during the third quarter worth about $440,000. Berry Wealth Group LP raised its stake in Target by 7.4% during the third quarter. Berry Wealth Group LP now owns 1,720 shares of the retailer’s stock worth $268,000 after purchasing an additional 118 shares during the period. Finally, Trilogy Capital Inc. boosted its holdings in Target by 5.3% in the 3rd quarter. Trilogy Capital Inc. now owns 19,221 shares of the retailer’s stock valued at $2,996,000 after purchasing an additional 959 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGT has been the topic of several analyst reports. Sanford C. Bernstein began coverage on shares of Target in a research report on Tuesday. They set a “market perform” rating and a $168.00 price target on the stock. Melius Research started coverage on Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. Evercore ISI cut their price objective on Target from $170.00 to $165.00 and set an “in-line” rating for the company in a research report on Tuesday. Oppenheimer reduced their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 over the last quarter. 0.23% of the stock is currently owned by insiders.

Target Stock Down 1.4 %

Shares of Target stock traded down $2.13 during trading hours on Tuesday, hitting $148.78. The company had a trading volume of 1,129,499 shares, compared to its average volume of 3,945,480. The company’s 50-day moving average is $152.57 and its two-hundred day moving average is $152.42. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The company has a market cap of $68.83 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 EPS. Analysts anticipate that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.01%. Target’s payout ratio is 50.28%.

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.