SevenBridge Financial Group LLC Increases Position in Target Co. (NYSE:TGT)

SevenBridge Financial Group LLC raised its position in shares of Target Co. (NYSE:TGT) by 7.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,729 shares of the retailer’s stock after purchasing an additional 2,644 shares during the period. Target makes up approximately 1.1% of SevenBridge Financial Group LLC’s holdings, making the stock its 22nd largest holding. SevenBridge Financial Group LLC’s holdings in Target were worth $6,090,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new stake in Target in the 2nd quarter worth approximately $25,000. Slocum Gordon & Co LLP bought a new stake in shares of Target in the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Target in the 2nd quarter valued at $31,000. Wolff Wiese Magana LLC grew its holdings in shares of Target by 156.5% during 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 during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Target in the 2nd quarter worth $37,000. Institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s 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 sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 12.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s 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 of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.15% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $125.01 on Friday. The firm has a market capitalization of $57.59 billion, a PE ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a 50 day moving average price of $151.27 and a 200-day moving average price of $149.61. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.10 earnings per share. As a group, equities research analysts expect that Target Co. will post 9.58 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.58%. Target’s payout ratio is presently 47.51%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several analyst reports. Jefferies Financial Group increased their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Citigroup lowered shares of Target from a “buy” rating to a “neutral” rating and cut their target price for the company from $188.00 to $130.00 in a research note on Wednesday. Sanford C. Bernstein began coverage on shares of Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Guggenheim lowered their target price on Target from $180.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $162.13.

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.