Precedent Wealth Partners LLC Boosts Stock Holdings in Target Co. (NYSE:TGT)

Precedent Wealth Partners LLC lifted its position in Target Co. (NYSE:TGT) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,199 shares of the retailer’s stock after buying an additional 160 shares during the period. Precedent Wealth Partners LLC’s holdings in Target were worth $343,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Washington Trust Advisors Inc. raised its holdings in shares of Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. raised its stake in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after purchasing an additional 68 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares in the last quarter. Integral Investment Advisors Inc. boosted its stake in Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after purchasing an additional 69 shares during the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after buying an additional 69 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.6 %

Target stock opened at $156.78 on Friday. The firm has a market capitalization of $72.53 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.99 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The stock’s fifty day simple moving average is $152.25 and its 200-day simple moving average is $152.90.

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

Target Announces Dividend

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

Insider Transactions at Target

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TGT shares. Evercore ISI boosted their price target on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Roth Mkm upped their price target on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. UBS Group lifted their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

Target Profile

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.