1900 Wealth Management LLC Takes $220,000 Position in Target Co. (NYSE:TGT)

1900 Wealth Management LLC acquired a new stake in Target Co. (NYSE:TGT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,545 shares of the retailer’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Beacon Financial Advisory LLC increased its position in Target by 1.0% in the 4th quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock valued at $1,005,000 after acquiring an additional 72 shares during the period. Janiczek Wealth Management LLC increased its position in shares of Target by 18.8% during the 4th quarter. Janiczek Wealth Management LLC now owns 494 shares of the retailer’s stock valued at $70,000 after purchasing an additional 78 shares during the period. VisionPoint Advisory Group LLC increased its position 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 purchasing an additional 80 shares during the period. iA Global Asset Management Inc. increased its position 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 purchasing an additional 83 shares during the period. Finally, Ballast Inc. increased its position 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 purchasing an additional 85 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TGT shares. Telsey Advisory Group lifted their price target on Target from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Roth Mkm lifted their price target on Target from $140.00 to $153.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. HSBC upgraded Target from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $195.00 in a research report on Wednesday, March 6th. JPMorgan Chase & Co. lifted their price target on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, UBS Group restated a “buy” rating and issued a $174.00 target price on shares of Target in a report on Tuesday, March 5th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.85.

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 stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christina Hennington sold 4,600 shares of the 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 sale, the insider now directly owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is currently owned by corporate insiders.

Target Trading Down 0.4 %

Shares of TGT opened at $166.51 on Wednesday. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $76.88 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.57 and a beta of 1.14. The stock’s 50-day moving average price is $164.45 and its 200 day moving average price is $142.30.

Target (NYSE:TGT) last released its quarterly earnings data 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 company had revenue of $31.47 billion for 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, research analysts predict that Target Co. will post 9.39 earnings per share for the current 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. This represents a $4.40 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, May 14th. Target’s 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.