Moss Adams Wealth Advisors LLC Purchases New Position in Target Co. (NYSE:TGT)

Moss Adams Wealth Advisors LLC purchased a new stake in Target Co. (NYSE:TGT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,753 shares of the retailer’s stock, valued at approximately $250,000.

Several other large investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Target by 18.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 56,298 shares of the retailer’s stock worth $6,225,000 after purchasing an additional 8,732 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of Target during the third quarter worth approximately $375,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Target by 9.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 172,916 shares of the retailer’s stock valued at $19,119,000 after purchasing an additional 15,198 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Target by 3.8% in the third quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,700 shares of the retailer’s stock valued at $520,000 after purchasing an additional 170 shares in the last quarter. Finally, Brighton Jones LLC raised its position in Target by 3.5% in the 3rd quarter. Brighton Jones LLC now owns 4,820 shares of the retailer’s stock worth $533,000 after purchasing an additional 163 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Target

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TGT. Tigress Financial upped their price target on Target from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. BMO Capital Markets boosted their price target on shares of Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. Truist Financial raised their price objective on shares of Target from $142.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Telsey Advisory Group lifted their target price on shares of Target from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus increased 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. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Down 0.5 %

TGT stock traded down $0.82 during midday trading on Wednesday, hitting $159.59. The company’s stock had a trading volume of 2,574,589 shares, compared to its average volume of 3,675,110. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock has a market capitalization of $73.83 billion, a P/E ratio of 17.87, a PEG ratio of 1.48 and a beta of 1.17. 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 fifty day moving average price is $166.79 and its 200 day moving average price is $145.90.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The firm 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 business’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. As a group, equities research analysts predict that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is currently 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.