Empirical Asset Management LLC Takes Position in Target Corporation $TGT

Empirical Asset Management LLC bought a new position in Target Corporation (NYSE:TGT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,597 shares of the retailer’s stock, valued at approximately $600,000.

Several other institutional investors also recently modified their holdings of the business. Wynn Capital LLC boosted its stake in Target by 0.9% during the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock worth $1,104,000 after acquiring an additional 79 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in Target by 16.0% in the first quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock worth $70,000 after purchasing an additional 80 shares during the period. Prosperity Consulting Group LLC increased its stake in shares of Target by 3.4% during the first quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer’s stock valued at $300,000 after purchasing an additional 81 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Target by 3.4% during the second quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer’s stock valued at $324,000 after purchasing an additional 82 shares in the last quarter. Finally, Howe & Rusling Inc. lifted its holdings in shares of Target by 3.1% during the first quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer’s stock valued at $358,000 after purchasing an additional 90 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Trading Up 1.1%

Shares of NYSE TGT opened at $152.63 on Wednesday. The firm’s 50 day moving average price is $139.08 and its 200-day moving average price is $126.98. Target Corporation has a 52-week low of $83.44 and a 52-week high of $156.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The company has a market cap of $69.32 billion, a PE ratio of 20.16, a P/E/G ratio of 2.51 and a beta of 0.96.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.24. The company had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. On average, equities research analysts expect that Target Corporation will post 8.43 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a $1.16 dividend. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.0%. Target’s payout ratio is currently 61.29%.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen raised Target from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. UBS Group raised their price objective on Target from $144.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Citigroup reiterated a “market outperform” rating on shares of Target in a research note on Monday. Wolfe Research set a $169.00 target price on Target in a report on Monday, August 3rd. Finally, Roth Capital reissued a “neutral” rating and issued a $114.00 target price on shares of Target in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Target presently has a consensus rating of “Hold” and an average price target of $143.85.

More Target News

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.