Midland Wealth Advisors LLC Makes New Investment in Target Co. (NYSE:TGT)

Midland Wealth Advisors LLC acquired a new position in Target Co. (NYSE:TGTFree Report) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 11,795 shares of the retailer’s stock, valued at approximately $1,680,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rakuten Securities Inc. bought a new position in shares of Target in the fourth quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new position in shares of Target in the fourth quarter worth approximately $29,000. Pacific Capital Wealth Advisors Inc. bought a new position in Target during the fourth quarter valued at approximately $33,000. Partnership Wealth Management LLC bought a new position in Target during the fourth quarter valued at approximately $40,000. Finally, Pingora Partners LLC bought a new position in Target during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In related news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction on 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 owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina Hennington sold 4,600 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the transaction, the insider now 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. 0.23% of the stock is currently owned by corporate insiders.

Target Price Performance

Shares of NYSE TGT traded up $0.60 during midday trading on Wednesday, reaching $146.79. The stock had a trading volume of 3,063,743 shares, compared to its average volume of 3,895,083. The stock has a 50-day moving average of $158.53 and a 200-day moving average of $152.26. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The company has a market capitalization of $67.91 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.40 and a beta of 1.20. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGTGet Free Report) last posted its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, research analysts anticipate that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.05%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TGT shares. Citigroup upgraded 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, May 7th. Gordon Haskett increased their price objective on shares of Target from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. BNP Paribas started coverage on shares of Target in a research report on Monday, June 3rd. They set an “underperform” rating and a $116.00 price objective on the stock. Truist Financial lowered their price objective on shares of Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus target price of $178.11.

Read Our Latest Research Report on TGT

Target Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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