Activest Wealth Management Has $52,000 Position in Target Co. (NYSE:TGT)

Activest Wealth Management raised its stake in shares of Target Co. (NYSE:TGTGet Rating) by 55.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 366 shares of the retailer’s stock after buying an additional 130 shares during the quarter. Activest Wealth Management’s holdings in Target were worth $52,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TGT. Mutual Advisors LLC lifted its holdings in shares of Target by 8.0% during the 4th quarter. Mutual Advisors LLC now owns 9,966 shares of the retailer’s stock valued at $2,307,000 after purchasing an additional 738 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Target by 9.0% during the 4th quarter. Blair William & Co. IL now owns 130,230 shares of the retailer’s stock valued at $30,140,000 after purchasing an additional 10,794 shares in the last quarter. IMA Wealth Inc. lifted its holdings in shares of Target by 0.9% during the 4th quarter. IMA Wealth Inc. now owns 10,091 shares of the retailer’s stock valued at $2,335,000 after purchasing an additional 89 shares in the last quarter. Navellier & Associates Inc. lifted its holdings in shares of Target by 18.3% during the 4th quarter. Navellier & Associates Inc. now owns 39,178 shares of the retailer’s stock valued at $9,067,000 after purchasing an additional 6,063 shares in the last quarter. Finally, Jag Capital Management LLC lifted its holdings in shares of Target by 39.0% during the 4th quarter. Jag Capital Management LLC now owns 34,798 shares of the retailer’s stock valued at $8,054,000 after purchasing an additional 9,764 shares in the last quarter. 77.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGT has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on Target from $255.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 8th. KeyCorp began coverage on Target in a research note on Wednesday, September 14th. They issued an “overweight” rating and a $200.00 target price on the stock. Guggenheim boosted their target price on Target to $190.00 in a research note on Monday, August 22nd. Piper Sandler began coverage on Target in a research note on Friday, July 22nd. They issued a “neutral” rating and a $190.00 target price on the stock. Finally, MKM Partners cut their target price on Target from $163.00 to $161.00 and set a “neutral” rating on the stock in a research note on Thursday, August 18th. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.67.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,226 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at approximately $488,725.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,226 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at approximately $488,725.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now owns 118,425 shares in the company, valued at $19,660,918.50. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Target Price Performance

Shares of Target stock traded down $2.62 during trading on Friday, hitting $150.34. 255,624 shares of the stock traded hands, compared to its average volume of 3,364,889. The company has a quick ratio of 0.14, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The stock has a market cap of $69.20 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.99 and a beta of 1.02. The firm’s fifty day moving average is $163.84 and its 200-day moving average is $182.03. Target Co. has a 52 week low of $137.16 and a 52 week high of $268.98.

Target (NYSE:TGTGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The retailer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.32). The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $26.07 billion. Target had a net margin of 3.92% and a return on equity of 35.15%. Target’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.64 earnings per share. Research analysts expect that Target Co. will post 8.11 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.87%. Target’s dividend payout ratio (DPR) is presently 49.09%.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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