Wakefield Asset Management LLLP Makes New $3.61 Million Investment in Target Co. (NYSE:TGT)

Wakefield Asset Management LLLP bought a new position in Target Co. (NYSE:TGT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,375 shares of the retailer’s stock, valued at approximately $3,614,000. Target accounts for approximately 1.3% of Wakefield Asset Management LLLP’s portfolio, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Plancorp LLC grew its stake in shares of Target by 2.1% during the 1st quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock valued at $535,000 after buying an additional 53 shares during the period. Beacon Financial Advisory LLC grew its stake in shares of Target by 1.0% during the 4th quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock valued at $1,005,000 after buying an additional 72 shares during the period. VisionPoint Advisory Group LLC grew its stake in shares of Target by 4.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,887 shares of the retailer’s stock valued at $209,000 after buying an additional 80 shares during the period. iA Global Asset Management Inc. grew its stake in shares of Target by 0.4% during the 3rd quarter. iA Global Asset Management Inc. now owns 22,760 shares of the retailer’s stock valued at $2,517,000 after buying an additional 83 shares during the period. Finally, Ballast Inc. grew its stake in shares of Target by 0.8% during the 4th quarter. Ballast Inc. now owns 10,988 shares of the retailer’s stock valued at $1,565,000 after buying an additional 85 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock worth $8,819,598 over the last quarter. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Wells Fargo & Company lifted their target price on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. UBS Group restated a “buy” rating and set a $174.00 target price on shares of Target in a report on Tuesday, March 5th. Royal Bank of Canada lifted their target price on shares of Target from $157.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, Bank of America lifted their target price on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.04.

Target Stock Performance

Shares of NYSE:TGT traded down $0.45 during trading on Friday, reaching $171.77. 2,326,915 shares of the company’s stock traded hands, compared to its average volume of 3,306,463. The stock has a market capitalization of $79.30 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company has a 50 day moving average of $158.89 and a 200-day moving average of $137.25. 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 (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. Target’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, equities analysts expect that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

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 paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.56%. Target’s dividend payout ratio (DPR) 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.