Savvy Advisors Inc. Takes Position in Target Co. (NYSE:TGT)

Savvy Advisors Inc. purchased a new stake in Target Co. (NYSE:TGTFree Report) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,724 shares of the retailer’s stock, valued at approximately $269,000.

A number of other hedge funds have also bought and sold shares of the business. Legal & General Group Plc increased its holdings in shares of Target by 6.8% during the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after purchasing an additional 279,656 shares during the period. Victory Capital Management Inc. grew its position in 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 buying an additional 440,307 shares in 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 worth $558,898,000 after acquiring an additional 470,647 shares during the period. Dimensional Fund Advisors LP raised its holdings in Target by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock valued at $461,031,000 after acquiring an additional 435,229 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Target by 9.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after acquiring an additional 272,521 shares during the period. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Target 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 transaction, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction 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 owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the 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 transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents 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 over the last 90 days. Company insiders own 0.15% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $154.99 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a one year low of $108.08 and a one year high of $181.86. The business’s 50 day simple moving average is $152.46 and its 200 day simple moving average is $150.49. The stock has a market capitalization of $71.40 billion, a PE ratio of 16.01, a PEG ratio of 2.01 and a beta of 1.24.

Target (NYSE:TGTGet Free Report) last posted 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 company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.80 earnings per share. As a group, research analysts forecast that Target Co. will post 9.54 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. Target’s payout ratio is 46.28%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent analyst reports. Melius Research began coverage on Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $180.00 target price on shares of Target in a report on Wednesday, August 21st. JPMorgan Chase & Co. upped their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Bank of America lifted their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company upped their target price on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.47.

Read Our Latest Stock Report on Target

Target Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGTFree Report).

Institutional Ownership by Quarter for Target (NYSE:TGT)

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