QRG Capital Management Inc. Has $16.21 Million Stock Holdings in Target Co. (NYSE:TGT)

QRG Capital Management Inc. increased its holdings in shares of Target Co. (NYSE:TGT) by 52.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,971 shares of the retailer’s stock after buying an additional 35,674 shares during the period. QRG Capital Management Inc.’s holdings in Target were worth $16,205,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in Target during the 2nd quarter worth approximately $25,000. Washington Trust Advisors Inc. raised its holdings in Target by 56.1% during 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. Slocum Gordon & Co LLP bought a new position in Target during the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC bought a new position in Target during the 2nd quarter worth approximately $31,000. Finally, Wolff Wiese Magana LLC raised its holdings in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TGT has been the subject of several analyst reports. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. lifted their price objective on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Jefferies Financial Group lifted their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. TD Cowen lifted their price objective on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their price objective 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Target currently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Target Price Performance

TGT opened at $149.99 on Tuesday. The firm has a market cap of $69.10 billion, a P/E ratio of 15.49, a PEG ratio of 1.94 and a beta of 1.24. The firm has a 50-day moving average of $152.86 and a 200 day moving average of $151.11. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last posted its quarterly 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. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. On average, research analysts expect that Target Co. will post 9.54 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.99%. Target’s payout ratio is currently 46.28%.

Target Company 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.