Edge Capital Group LLC Acquires 1,299 Shares of Target Co. (NYSE:TGT)

Edge Capital Group LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,221 shares of the retailer’s stock after acquiring an additional 1,299 shares during the period. Edge Capital Group LLC’s holdings in Target were worth $4,474,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Little House Capital LLC purchased a new stake in shares of Target in the 1st quarter worth approximately $1,041,000. Nordea Investment Management AB raised its holdings in Target by 23.6% in the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after buying an additional 122,706 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after buying an additional 6,690 shares in the last quarter. Janney Capital Management LLC purchased a new position in Target in the 1st quarter worth approximately $13,958,000. Finally, United Services Automobile Association lifted its position in Target by 134.6% in the 4th quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock valued at $14,781,000 after acquiring an additional 59,553 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insiders Place Their Bets

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Target Stock Down 1.1 %

Shares of NYSE TGT opened at $154.75 on Friday. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The firm has a market capitalization of $71.59 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.90 and a beta of 1.24. The stock has a 50 day moving average price of $148.48 and a 200 day moving average price of $154.98. 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 (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.80 EPS. Sell-side analysts expect that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 50.28%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TGT. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a report on Monday, August 26th. Truist Financial raised their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price objective on shares of Target in a report on Thursday. Citigroup raised their target price on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, UBS Group increased their price target on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and a consensus price target of $179.68.

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.