Daymark Wealth Partners LLC Increases Stock Holdings in Target Co. (NYSE:TGT)

Daymark Wealth Partners LLC raised its position in Target Co. (NYSE:TGT) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,934 shares of the retailer’s stock after acquiring an additional 435 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Target were worth $9,653,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TGT. Little House Capital LLC purchased a new position in Target in the 1st quarter valued at about $1,041,000. Nordea Investment Management AB lifted its stake in shares of 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 acquiring an additional 122,706 shares in the last quarter. QRG Capital Management Inc. grew its stake in Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after purchasing an additional 6,690 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Target during the 1st quarter valued at approximately $13,958,000. Finally, Wellington Management Group LLP increased its holdings in Target by 864.4% during the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after purchasing an additional 51,639 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Royal Bank of Canada increased their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reduced their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Daiwa America raised Target to a “strong-buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Target currently has an average rating of “Moderate Buy” and an average price target of $179.69.

Target Stock Performance

Shares of NYSE:TGT traded down $0.52 on Wednesday, hitting $150.80. 610,257 shares of the company were exchanged, compared to its average volume of 3,975,092. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company’s 50 day moving average price is $149.22 and its two-hundred day moving average price is $153.60. Target Co. has a one year low of $105.23 and a one year high of $181.86. The firm has a market capitalization of $69.77 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.00 and a beta of 1.24.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred 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 directly owns 7,276 shares in the company, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were 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 $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,348 shares of company stock worth $8,290,995. 0.23% of the stock is currently owned by corporate insiders.

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.