WT Wealth Management Acquires 402 Shares of Target Co. (NYSE:TGT)

Financial News Live · Mar 28, 2023 04:13

WT Wealth Management lifted its holdings in shares of Target Co. (NYSE:TGT – Get Rating) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,113 shares of the retailer's stock after purchasing an additional 402 shares during the period. WT Wealth Management's holdings in Target were worth $1,656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Massachusetts Financial Services Co. MA grew its holdings in Target by 566.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,775,981 shares of the retailer's stock valued at $956,973,000 after purchasing an additional 5,759,168 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Target by 122,068.9% in the third quarter. Fisher Asset Management LLC now owns 4,793,906 shares of the retailer's stock worth $711,368,000 after acquiring an additional 4,789,982 shares during the period. State Street Corp boosted its holdings in shares of Target by 2.6% in the third quarter. State Street Corp now owns 34,191,786 shares of the retailer's stock worth $5,073,719,000 after acquiring an additional 852,361 shares during the period. Amundi boosted its holdings in shares of Target by 70.9% in the second quarter. Amundi now owns 1,749,200 shares of the retailer's stock worth $255,285,000 after acquiring an additional 725,396 shares during the period. Finally, Truist Financial Corp raised its position in shares of Target by 171.9% in the third quarter. Truist Financial Corp now owns 1,044,226 shares of the retailer's stock worth $154,954,000 after buying an additional 660,229 shares in the last quarter. Institutional investors own 78.86% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TGT shares. Gordon Haskett downgraded Target from a "buy" rating to a "hold" rating and set a $132.00 price target on the stock. in a research report on Wednesday, December 21st. Roth Capital reissued a "neutral" rating on shares of Target in a research note on Wednesday, March 1st. Morgan Stanley reissued an "equal weight" rating and issued a $155.00 target price on shares of Target in a research note on Monday, February 13th. Oppenheimer initiated coverage on Target in a research report on Monday, January 23rd. They set an "outperform" rating and a $190.00 price objective on the stock. Finally, TheStreet upgraded shares of Target from a "c+" rating to a "b-" rating in a report on Thursday, February 16th. Thirteen investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $181.69.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 35,000 shares of the firm's stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the completion of the transaction, the insider now owns 191,272 shares of the company's stock, valued at $30,408,422.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company's stock.

Target Trading Up 0.8 %

Target stock traded up $1.22 during midday trading on Monday, reaching $157.44. The stock had a trading volume of 650,932 shares, compared to its average volume of 3,252,845. The company has a quick ratio of 0.22, a current ratio of 0.92 and a debt-to-equity ratio of 1.43. Target Co. has a 52-week low of $137.16 and a 52-week high of $254.87. The firm has a market cap of $72.48 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 1.26 and a beta of 1.05. The company has a fifty day moving average of $166.27 and a 200 day moving average of $160.50.

Target (NYSE:TGT – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The retailer reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.49. The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $30.73 billion. Target had a net margin of 2.55% and a return on equity of 25.63%. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 EPS. On average, analysts anticipate that Target Co. will post 8.35 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 17th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $4.32 annualized dividend and a yield of 2.74%. Target's dividend payout ratio (DPR) is 72.24%.

Target Profile

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.