Invera Wealth Advisors LLC Takes Position in Target Co. (NYSE:TGT)

Invera Wealth Advisors LLC acquired a new position in shares of Target Co. (NYSE:TGT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,518 shares of the retailer’s stock, valued at approximately $253,000.

Several other hedge funds have also added to or reduced their stakes in the business. United Services Automobile Association raised its position in shares of Target by 2.9% during the third quarter. United Services Automobile Association now owns 44,232 shares of the retailer’s stock worth $4,891,000 after purchasing an additional 1,239 shares during the period. RFG Advisory LLC acquired a new stake in Target during the 4th quarter worth approximately $605,000. Tower View Wealth Management LLC lifted its stake in Target by 82.8% in the third 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 in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Target by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock valued at $73,819,000 after buying an additional 24,066 shares during the period. Finally, Asio Capital LLC increased its position in shares of Target by 109.9% during the fourth quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock worth $3,883,000 after acquiring an additional 14,274 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TGT shares. Stifel Nicolaus lifted their price target on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. DA Davidson lifted their target price on Target from $167.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Roth Mkm boosted their target price on Target from $140.00 to $153.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Oppenheimer raised their price target on shares of Target from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Finally, Telsey Advisory Group lifted their price objective on shares of Target from $160.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Target has an average rating of “Moderate Buy” and an average price target of $181.85.

Insider Activity at Target

In other Target news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the transaction, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock valued at $8,819,598 over the last three months. 0.23% of the stock is owned by insiders.

Target Price Performance

Target stock traded down $1.01 during mid-day trading on Monday, reaching $163.73. 2,737,106 shares of the company were exchanged, compared to its average volume of 3,683,991. The company has a fifty day simple moving average of $165.80 and a 200-day simple moving average of $143.87. The firm has a market cap of $75.59 billion, a PE ratio of 18.33, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The company had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter last year, the business earned $1.89 earnings per share. Target’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.69%. Target’s dividend payout ratio is 49.27%.

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.