Great Waters Wealth Management Reduces Stake in Target Co. (NYSE:TGT)

Great Waters Wealth Management trimmed its position in shares of Target Co. (NYSE:TGT) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,684 shares of the retailer’s stock after selling 353 shares during the quarter. Great Waters Wealth Management’s holdings in Target were worth $263,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TGT. Little House Capital LLC acquired a new stake in shares of Target during the first quarter worth $1,041,000. Nordea Investment Management AB boosted its stake in Target by 23.6% in the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after acquiring an additional 122,706 shares during the period. QRG Capital Management Inc. grew its holdings in Target by 11.4% in the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after buying an additional 6,690 shares in the last quarter. Janney Capital Management LLC acquired a new position in Target during the 1st quarter valued at about $13,958,000. Finally, Wellington Management Group LLP grew its holdings in Target by 864.4% during the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after acquiring an additional 51,639 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

TGT traded up $3.28 during trading on Friday, hitting $152.88. 3,557,483 shares of the company traded hands, compared to its average volume of 4,000,033. The company has a market cap of $70.73 billion, a PE ratio of 17.16, a P/E/G ratio of 2.00 and a beta of 1.24. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. 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 stock’s 50-day simple moving average is $149.11 and its two-hundred day simple moving average is $154.08.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.80 earnings per share. As a group, sell-side analysts anticipate that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Dividend Announcement

The company 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.93%. Target’s payout ratio is currently 50.28%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was 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 of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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. The trade was 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, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TGT. Daiwa America raised Target to a “strong-buy” rating in a research note on Monday, August 26th. TD Cowen increased their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Royal Bank of Canada raised their price target on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Roth Mkm raised their price objective on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI lifted their target price on shares of Target from $158.00 to $160.00 and gave the company an “inline” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, 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.