Commonwealth Financial Services LLC Has $267,000 Stock Position in Target Co. (NYSE:TGT)

Commonwealth Financial Services LLC raised its stake in Target Co. (NYSE:TGT) by 25.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,793 shares of the retailer’s stock after acquiring an additional 369 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Target were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TGT. Triad Wealth Partners LLC acquired a new stake in shares of Target in the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. bought a new position in Target in the 4th quarter valued at $28,000. Slocum Gordon & Co LLP bought a new position in Target in the 2nd quarter valued at $28,000. Scarborough Advisors LLC acquired a new stake in shares of Target in the 4th quarter valued at $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Target during the second quarter worth $31,000. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

Shares of TGT stock opened at $154.75 on Monday. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company’s fifty day simple moving average is $148.48 and its 200-day simple moving average is $154.85. The firm has a market cap of $71.59 billion, a PE ratio of 17.37, a P/E/G 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.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 EPS. Equities research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 50.28%.

Insider Transactions at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’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 directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. 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 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 sale, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’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 transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Jefferies Financial Group lifted their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI increased their price objective on shares of Target from $158.00 to $160.00 and gave the company an “inline” rating in a report on Thursday, August 22nd. Royal Bank of Canada lifted their target price on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Piper Sandler assumed coverage on Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.