Target Co. (NYSE:TGT) Shares Acquired by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. increased its stake in shares of Target Co. (NYSE:TGT) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,269 shares of the retailer’s stock after buying an additional 2,009 shares during the quarter. Target comprises approximately 1.0% of Global Wealth Management Investment Advisory Inc.’s investment portfolio, making the stock its 26th biggest holding. Global Wealth Management Investment Advisory Inc.’s holdings in Target were worth $4,026,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Brookstone Capital Management raised its position in Target by 12.6% during the third quarter. Brookstone Capital Management now owns 8,389 shares of the retailer’s stock valued at $909,000 after acquiring an additional 938 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Target by 18.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 56,298 shares of the retailer’s stock worth $6,225,000 after acquiring an additional 8,732 shares during the period. Pinnacle Associates Ltd. grew its position in shares of Target by 0.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 40,074 shares of the retailer’s stock valued at $4,431,000 after acquiring an additional 366 shares during the period. Tectonic Advisors LLC increased its stake in shares of Target by 15.2% in the 3rd quarter. Tectonic Advisors LLC now owns 5,220 shares of the retailer’s stock valued at $577,000 after purchasing an additional 689 shares in the last quarter. Finally, Financial Management Network Inc. acquired a new position in Target in the 3rd quarter worth about $213,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Down 1.8 %

Target stock traded down $2.82 during trading on Wednesday, reaching $158.16. The stock had a trading volume of 1,492,096 shares, compared to its average volume of 3,654,994. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The stock has a market cap of $73.02 billion, a PE ratio of 18.03, a P/E/G ratio of 1.53 and a beta of 1.14. The business has a 50 day moving average price of $166.02 and a 200 day moving average price of $144.21.

Target (NYSE:TGT) last released 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 business had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same period in the previous year, the company earned $1.89 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts predict that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders 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 dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

Wall Street Analyst Weigh In

TGT has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Oppenheimer boosted their price target on shares of Target from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Evercore ISI reduced their price objective on shares of Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Tigress Financial lifted their target price on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Roth Mkm upped their price target on shares of Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.85.

Insider Buying and Selling

In other Target news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were 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 in the company, valued at $6,576,658.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of Target stock in a transaction 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 transaction, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. 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 90 days. 0.23% of the stock is owned by insiders.

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.