1,631 Shares in Target Co. (NYSE:TGT) Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management acquired a new stake in Target Co. (NYSE:TGT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,631 shares of the retailer’s stock, valued at approximately $232,000.

A number of other hedge funds also recently made changes to their positions in the company. Tower View Wealth Management LLC boosted its position in Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after buying an additional 106 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Target during the 4th quarter valued at approximately $29,000. Friedenthal Financial purchased a new stake in Target during the 4th quarter worth approximately $45,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Target in the 4th quarter valued at approximately $49,000. Finally, MV Capital Management Inc. grew its position in shares of Target by 200.8% during the fourth quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock worth $51,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Up 2.0 %

NYSE TGT opened at $161.50 on Tuesday. The company has a market capitalization of $74.71 billion, a P/E ratio of 17.74, a PEG ratio of 1.48 and a beta of 1.17. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The company’s 50 day simple moving average is $166.63 and its 200 day simple moving average is $145.54.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The company had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. Equities research analysts expect that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.72%. Target’s payout ratio is presently 49.27%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Target news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. Morgan Stanley upped their price objective on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group boosted their price target on Target from $176.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Guggenheim raised their price objective on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Target has an average rating of “Moderate Buy” and an average price target of $181.85.

Target 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.