Brown Financial Advisors Takes $1.49 Million Position in Target Co. (NYSE:TGT)

Brown Financial Advisors acquired a new stake in Target Co. (NYSE:TGT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,037 shares of the retailer’s stock, valued at approximately $1,486,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in shares of Target in the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target in the fourth quarter valued at approximately $28,000. Slocum Gordon & Co LLP acquired a new position in shares of Target in the second quarter valued at approximately $28,000. Scarborough Advisors LLC acquired a new position in shares of Target in the fourth quarter valued at approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Target in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. In the last three months, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TGT has been the topic of several analyst reports. Bank of America upped their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. 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. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 target price on shares of Target in a report on Wednesday, August 21st. TD Cowen upped their target price on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Jefferies Financial Group upped their target price on Target from $190.00 to $195.00 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, nineteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Target Trading Down 2.3 %

NYSE TGT opened at $152.20 on Wednesday. The firm has a market capitalization of $70.41 billion, a P/E ratio of 17.08, a PEG ratio of 2.00 and a beta of 1.24. The business has a fifty day simple moving average of $148.89 and a 200 day simple moving average of $154.24. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business 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 quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 EPS. On average, analysts predict 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. Investors of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 50.28%.

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.