Concentric Wealth Management LLC Has $6.27 Million Stake in Target Co. (NYSE:TGT)

Concentric Wealth Management LLC increased its position in shares of Target Co. (NYSE:TGT) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,218 shares of the retailer’s stock after purchasing an additional 1,032 shares during the period. Target makes up about 1.5% of Concentric Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Concentric Wealth Management LLC’s holdings in Target were worth $6,268,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in Target during the second quarter worth approximately $25,000. Slocum Gordon & Co LLP bought a new position in shares of Target in the second quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in Target in the second quarter valued at about $31,000. Wolff Wiese Magana LLC lifted its position in Target by 156.5% during the third 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 period. Finally, Catalyst Capital Advisors LLC acquired a new stake in Target during the third quarter worth about $38,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Up 2.8 %

Shares of NYSE TGT opened at $125.01 on Monday. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The stock has a market capitalization of $57.59 billion, a P/E ratio of 13.26, a P/E/G ratio of 2.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a 50-day moving average price of $151.27 and a 200-day moving average price of $149.54.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 EPS. On average, equities research analysts forecast that Target Co. will post 8.6 EPS for the current fiscal year.

Target Announces Dividend

The company 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 47.51%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TGT. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Wednesday, November 20th. TD Cowen reduced their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday. Daiwa America raised Target to a “strong-buy” rating in a report on Monday, August 26th. Guggenheim reduced their price objective on Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.13.

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 12.08 % 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 worth $8,290,995. 0.15% of the stock is owned by insiders.

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.