WealthPlan Investment Management LLC Purchases 217 Shares of Target Co. (NYSE:TGT)

WealthPlan Investment Management LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,121 shares of the retailer’s stock after purchasing an additional 217 shares during the period. WealthPlan Investment Management LLC’s holdings in Target were worth $331,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. 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. grew its position in Target by 11.4% during the 2nd 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 last quarter. Clearbridge Investments LLC increased its stake in Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after purchasing an additional 470,647 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Target by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after buying an additional 435,229 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Target by 9.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after buying an additional 272,521 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Cowen raised their target price on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Evercore ISI decreased their target price on Target from $170.00 to $165.00 and set an “in-line” rating for the company in a report on Tuesday, October 22nd. UBS Group raised their price target on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Citigroup increased their price objective on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada boosted their target price on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $179.47.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the company’s 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 transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.15% of the company’s stock.

Target Price Performance

NYSE:TGT opened at $155.72 on Wednesday. The stock has a 50 day moving average price of $152.38 and a 200 day moving average price of $150.55. The stock has a market cap of $71.74 billion, a PE ratio of 16.09, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a one year low of $107.13 and a one year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the previous year, the company posted $1.80 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that Target Co. will post 9.55 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is presently 46.28%.

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.