Westshore Wealth LLC grew its position in Target Co. (NYSE:TGT – Get Rating) by 242.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,592 shares of the retailer’s stock after acquiring an additional 2,544 shares during the period. Westshore Wealth LLC’s holdings in Target were worth $507,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Brookstone Capital Management purchased a new position in shares of Target during the 1st quarter worth approximately $2,453,000. CIBC World Markets Inc. boosted its holdings in shares of Target by 0.5% in the fourth quarter. CIBC World Markets Inc. now owns 23,884 shares of the retailer’s stock valued at $5,528,000 after acquiring an additional 121 shares in the last quarter. First Hawaiian Bank lifted its stake in shares of Target by 32.5% in the first quarter. First Hawaiian Bank now owns 13,533 shares of the retailer’s stock valued at $2,872,000 after purchasing an additional 3,316 shares during the period. West Family Investments Inc. lifted its stake in shares of Target by 18.9% in the first quarter. West Family Investments Inc. now owns 2,988 shares of the retailer’s stock valued at $634,000 after purchasing an additional 476 shares during the period. Finally, NewEdge Advisors LLC raised its position in Target by 17.0% during the first quarter. NewEdge Advisors LLC now owns 184,821 shares of the retailer’s stock worth $39,222,000 after acquiring an additional 26,849 shares during the last quarter. Institutional investors and hedge funds own 77.42% of the company’s stock.
Insiders Place Their Bets
In related news, CAO Matthew A. Liegel sold 1,226 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the sale, the chief accounting officer now owns 2,812 shares in the company, valued at approximately $488,725.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider John J. Mulligan sold 39,101 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now owns 118,425 shares in the company, valued at approximately $19,660,918.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Matthew A. Liegel sold 1,226 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the completion of the transaction, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at approximately $488,725.60. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.
Target Trading Down 1.1 %
Target (NYSE:TGT – Get Rating) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). Target had a return on equity of 35.15% and a net margin of 3.92%. The company had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $26.07 billion. During the same period in the prior year, the business earned $3.64 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Target Co. will post 8.11 EPS for the current year.
Target Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.85%. Target’s dividend payout ratio is presently 49.09%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Target from $231.00 to $223.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. KeyCorp started coverage on shares of Target in a research report on Wednesday, September 14th. They set an “overweight” rating and a $200.00 price target for the company. Telsey Advisory Group decreased their target price on shares of Target from $200.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, June 8th. Citigroup reduced their price objective on shares of Target from $188.00 to $184.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. Finally, Stifel Nicolaus raised their price target on shares of Target from $185.00 to $195.00 and gave the stock a “hold” rating in a report on Thursday, August 18th. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $193.67.
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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