Target Co. (NYSE:TGT) Shares Bought by Magnus Financial Group LLC

Magnus Financial Group LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,208 shares of the retailer’s stock after acquiring an additional 147 shares during the period. Magnus Financial Group LLC’s holdings in Target were worth $344,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Triad Wealth Partners LLC bought a new position in shares of Target during the second quarter worth about $25,000. Slocum Gordon & Co LLP bought a new position in Target in the second quarter worth about $28,000. Scarborough Advisors LLC acquired a new position in Target in the fourth quarter valued at approximately $29,000. Hobbs Group Advisors LLC bought a new position in shares of Target during the second quarter valued at approximately $31,000. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

TGT opened at $160.65 on Wednesday. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $74.32 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The stock’s 50 day moving average price is $150.88 and its two-hundred day moving average price is $152.98.

Target (NYSE:TGT) last released 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 net margin of 4.18% and a return on equity of 33.10%. 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 company earned $1.80 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.79%. Target’s dividend payout ratio (DPR) is currently 50.28%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TGT. Wells Fargo & Company boosted their target price on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial lifted their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Stifel Nicolaus upped their price target on Target from $147.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Melius Research began coverage on Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective on the stock. Finally, Evercore ISI increased their target price on Target from $158.00 to $160.00 and gave the company an “inline” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Target presently has an average rating of “Moderate Buy” and an average target price of $179.69.

Target 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.