Target Co. (NYSE:TGT) Shares Bought by DRW Securities LLC

DRW Securities LLC raised its stake in shares of Target Co. (NYSE:TGT) by 20.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,184 shares of the retailer’s stock after purchasing an additional 530 shares during the period. DRW Securities LLC’s holdings in Target were worth $471,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in Target during the 2nd quarter worth approximately $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Target during the 4th quarter worth $28,000. Slocum Gordon & Co LLP acquired a new stake in Target during the 2nd quarter worth $28,000. Scarborough Advisors LLC purchased a new stake in shares of Target during the fourth quarter worth $29,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Target in the second quarter valued at about $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TGT. TD Cowen boosted their price target on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. UBS Group upped their price target on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Melius Research began coverage on Target in a research report on Monday. They set a “buy” rating and a $180.00 price objective on the stock. 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. Finally, Wells Fargo & Company lifted their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” 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, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $179.69.

Target Price Performance

Shares of TGT opened at $155.29 on Tuesday. The company has a market cap of $71.84 billion, a P/E ratio of 17.43, a PEG ratio of 1.90 and a beta of 1.24. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. 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 firm’s 50 day moving average price is $148.56 and its 200 day moving average price is $154.74.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share 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 analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company 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 paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is presently 50.28%.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly 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 can be accessed through this link. In other 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s 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 transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Company 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.