Legacy Financial Advisors Inc. Purchases 245 Shares of Target Co. (NYSE:TGT)

Legacy Financial Advisors Inc. raised its position in Target Co. (NYSE:TGT) by 17.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,632 shares of the retailer’s stock after acquiring an additional 245 shares during the period. Legacy Financial Advisors Inc.’s holdings in Target were worth $242,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Bulltick Wealth Management LLC acquired a new stake in shares of Target in the 2nd quarter worth about $1,529,000. Summit Trail Advisors LLC increased its holdings in Target by 11.5% during the 2nd quarter. Summit Trail Advisors LLC now owns 8,532 shares of the retailer’s stock worth $1,263,000 after purchasing an additional 879 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Target by 39.9% in the second quarter. Thrivent Financial for Lutherans now owns 27,535 shares of the retailer’s stock worth $4,076,000 after purchasing an additional 7,860 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Target by 15.4% in the second quarter. Pacer Advisors Inc. now owns 36,052 shares of the retailer’s stock valued at $5,337,000 after purchasing an additional 4,811 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Target by 0.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 91,409 shares of the retailer’s stock valued at $13,532,000 after buying an additional 400 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Target stock opened at $154.75 on Friday. The stock has a market cap 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 company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The business has a 50-day simple moving average of $148.48 and a 200 day simple moving average of $154.98. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping 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 return on equity of 33.10% and a net margin of 4.18%. Target’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.80 earnings per share. On average, research analysts forecast that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed 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. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 50.28%.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of Target 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 transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TGT shares. Stifel Nicolaus raised their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. UBS Group boosted their price target on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen increased 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. Evercore ISI lifted their target price on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Finally, Roth Mkm upped their target price on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.68.

About Target

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.