Cornerstone Wealth Management LLC Buys 1,817 Shares of Target Co. (NYSE:TGT)

Cornerstone Wealth Management LLC raised its stake in shares of Target Co. (NYSE:TGT) by 41.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,212 shares of the retailer’s stock after acquiring an additional 1,817 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Target were worth $968,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TGT. Triad Wealth Partners LLC acquired a new position in shares of Target in the 2nd quarter worth approximately $25,000. Slocum Gordon & Co LLP acquired a new position in shares of Target during the second quarter worth approximately $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Target during the second quarter valued at approximately $31,000. Washington Trust Advisors Inc. increased its holdings in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its position in Target by 156.5% in 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. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TGT shares. Wells Fargo & Company raised their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler assumed coverage on shares of Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Evercore ISI upped their price objective on Target from $158.00 to $160.00 and gave the company an “inline” rating in a report on Thursday, August 22nd. Finally, Jefferies Financial Group increased their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

Target Price Performance

Shares of TGT opened at $155.91 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The stock has a market capitalization of $72.13 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.99 and a beta of 1.24. The company has a 50 day moving average of $151.83 and a 200-day moving average of $153.04.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion for 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 company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.80 EPS. As a group, equities research analysts forecast that Target Co. will post 9.53 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. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’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 completion of the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were 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 directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.