Strategic Financial Concepts LLC Invests $267,000 in Target Co. (NYSE:TGT)

Strategic Financial Concepts LLC purchased a new position in shares of Target Co. (NYSE:TGT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,506 shares of the retailer’s stock, valued at approximately $267,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Tower View Wealth Management LLC lifted its stake in shares of Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after buying an additional 106 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Target in the 4th quarter valued at about $28,000. Rakuten Securities Inc. purchased a new position in Target in the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new position in shares of Target during the 4th quarter worth approximately $29,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Target in the fourth quarter valued at approximately $29,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Down 1.7 %

NYSE:TGT traded down $2.76 during midday trading on Tuesday, hitting $160.97. 3,534,148 shares of the company were exchanged, compared to its average volume of 3,681,370. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a market capitalization of $74.32 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $166.02 and a 200 day simple moving average of $144.21.

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

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio is presently 49.27%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TGT. Oppenheimer boosted their price objective on Target from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Bank of America raised their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Target from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $206.00 in a report on Wednesday, March 6th. Finally, Tigress Financial upped their price objective on Target from $180.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $181.85.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,600 shares of company stock worth $8,819,598. Corporate insiders own 0.23% of the company’s stock.

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.