Proquility Private Wealth Partners LLC Has $1.40 Million Position in Target Co. (NYSE:TGT)

Proquility Private Wealth Partners LLC boosted its stake in Target Co. (NYSE:TGT) by 15.9% in the third quarter, HoldingsChannel reports. The firm owned 9,005 shares of the retailer’s stock after buying an additional 1,237 shares during the period. Proquility Private Wealth Partners LLC’s holdings in Target were worth $1,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Partners acquired a new stake in shares of Target in the 1st quarter valued at about $335,870,000. AQR Capital Management LLC boosted its holdings in Target by 711.2% in the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after acquiring an additional 768,479 shares in the last quarter. Swedbank AB acquired a new stake in Target in the first quarter valued at approximately $107,367,000. Clearbridge Investments LLC increased its holdings in shares of Target by 17.5% during the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after acquiring an additional 470,647 shares in the last quarter. Finally, 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. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Target

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 related news, insider Brian C. Cornell sold 45,000 shares of the 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 approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TGT. Truist Financial lifted their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Monday, August 26th. Citigroup upped their target price on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI raised their target price on Target from $158.00 to $160.00 and gave the company an “inline” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average price target of $179.69.

Target Trading Down 0.0 %

Shares of Target stock opened at $160.64 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The stock has a market capitalization of $74.32 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The stock’s 50-day simple moving average is $150.88 and its 200 day simple moving average is $152.98.

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

Target Dividend Announcement

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 paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.79%. Target’s dividend payout ratio is currently 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.