Net Worth Advisory Group Purchases New Stake in Target Co. (NYSE:TGT)

Net Worth Advisory Group purchased a new position in Target Co. (NYSE:TGT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,267 shares of the retailer’s stock, valued at approximately $1,289,000.

A number of other hedge funds have also recently modified their holdings of the company. Precedent Wealth Partners LLC lifted its holdings in Target by 7.8% in the 3rd quarter. Precedent Wealth Partners LLC now owns 2,199 shares of the retailer’s stock worth $343,000 after buying an additional 160 shares during the period. Stratos Investment Management LLC raised its holdings in shares of Target by 2.1% during the third quarter. Stratos Investment Management LLC now owns 4,237 shares of the retailer’s stock valued at $660,000 after acquiring an additional 87 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in Target by 13.2% in the third quarter. Aaron Wealth Advisors LLC now owns 15,015 shares of the retailer’s stock worth $2,340,000 after acquiring an additional 1,749 shares during the period. Joule Financial LLC boosted its holdings in Target by 12.4% in the third quarter. Joule Financial LLC now owns 1,559 shares of the retailer’s stock valued at $243,000 after acquiring an additional 172 shares in the last quarter. Finally, Claro Advisors LLC boosted its holdings in Target by 549.6% in the third quarter. Claro Advisors LLC now owns 14,453 shares of the retailer’s stock valued at $2,253,000 after acquiring an additional 12,228 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their price objective on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Thursday, September 19th. Morgan Stanley restated an “overweight” rating and set a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. Finally, Roth Mkm increased their price objective on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Target Stock Performance

Shares of NYSE TGT opened at $156.78 on Friday. The firm’s 50-day moving average price is $152.25 and its 200-day moving average price is $152.90. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The company has a market cap of $72.53 billion, a PE ratio of 17.60, a PEG ratio of 1.99 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $1.80 earnings per share. As a group, analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insiders Place Their Bets

In other news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.23% of the company’s stock.

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.