Forum Financial Management LP Grows Stock Position in Target Co. (NYSE:TGT)

Forum Financial Management LP boosted its stake in Target Co. (NYSE:TGT) by 5.3% in the third quarter, Holdings Channel reports. The fund owned 3,006 shares of the retailer’s stock after buying an additional 152 shares during the quarter. Forum Financial Management LP’s holdings in Target were worth $468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Triad Wealth Partners LLC purchased a new position in Target in the 2nd quarter worth approximately $25,000. Slocum Gordon & Co LLP purchased a new position in Target in the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC purchased a new position in Target in the 2nd quarter worth approximately $31,000. Washington Trust Advisors Inc. raised its position in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its position in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TGT. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Evercore ISI cut their target price on Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a research report on Monday. Citigroup upped their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, UBS Group upped their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and an average price target of $179.47.

Insider Activity at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Target Trading Down 0.6 %

Shares of TGT stock opened at $149.99 on Tuesday. The stock has a 50-day simple moving average of $152.86 and a 200 day simple moving average of $151.11. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86. The stock has a market capitalization of $69.10 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.94 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 announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter last year, the business posted $1.80 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts expect that Target Co. will post 9.54 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.99%. Target’s dividend payout ratio is currently 46.28%.

Target Company 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.