Sequoia Financial Advisors LLC Acquires 3,315 Shares of Target Co. (NYSE:TGT)

Sequoia Financial Advisors LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,122 shares of the retailer’s stock after acquiring an additional 3,315 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Target were worth $4,383,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC bought a new position in shares of Target in the second quarter valued at approximately $25,000. Slocum Gordon & Co LLP bought a new position in shares of Target in the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC bought a new position in shares of Target in the second quarter valued at approximately $31,000. Washington Trust Advisors Inc. raised its position in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Finally, Wolff Wiese Magana LLC raised its position in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of NYSE:TGT opened at $149.19 on Wednesday. The stock has a market capitalization of $69.02 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a 1-year low of $105.23 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 business has a 50-day moving average price of $152.82 and a two-hundred day moving average price of $152.26.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.80 EPS. Equities analysts predict that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.00%. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the business’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 value of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was 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. Also, insider Brian C. Cornell sold 45,000 shares of the business’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 owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 in the last ninety days. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TGT shares. Sanford C. Bernstein started coverage on shares of Target in a research report on Tuesday. They set a “market perform” rating and a $168.00 target price on the stock. TD Cowen boosted their target price on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Melius Research started coverage on shares of Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 target price on the stock. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and an average target price of $179.47.

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.