Empirical Financial Services LLC d.b.a. Empirical Wealth Management Lowers Stock Holdings in Target Co. (NYSE:TGT)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in Target Co. (NYSE:TGT) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,004 shares of the retailer’s stock after selling 104 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Target were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower View Wealth Management LLC grew its position in Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after purchasing an additional 106 shares during the period. Rakuten Securities Inc. purchased a new position in Target during the fourth quarter valued at $29,000. Friedenthal Financial bought a new stake in shares of Target in the 4th quarter worth about $45,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Target during the 4th quarter worth about $49,000. Finally, MV Capital Management Inc. lifted its holdings in Target by 200.8% during the 4th quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock valued at $51,000 after buying an additional 241 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, insider Christina Hennington sold 4,600 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the sale, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is currently owned by insiders.

Target Stock Performance

TGT opened at $164.34 on Friday. The stock has a market cap of $76.03 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The business’s 50 day moving average is $166.96 and its 200-day moving average is $146.00. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. On average, analysts predict that Target Co. will post 9.39 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent analyst reports. DA Davidson raised their price target on Target from $167.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Guggenheim increased their price objective on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Morgan Stanley raised their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Citigroup raised shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday. Finally, Roth Mkm boosted their target price on Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.85.

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.