Marks Group Wealth Management Inc Acquires 800 Shares of Target Co. (NYSE:TGT)

Marks Group Wealth Management Inc boosted its holdings in Target Co. (NYSE:TGTGet Rating) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,239 shares of the retailer’s stock after acquiring an additional 800 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Target were worth $4,694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blume Capital Management Inc. purchased a new position in Target in the 1st quarter worth approximately $25,000. HHM Wealth Advisors LLC increased its position in shares of Target by 75.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 209 shares of the retailer’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Wellington Shields & Co. LLC purchased a new position in shares of Target during the 2nd quarter valued at about $35,000. Aurora Private Wealth Inc. purchased a new position in shares of Target during the second quarter worth approximately $37,000. Finally, WFA of San Diego LLC bought a new position in shares of Target during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.

Target Stock Down 2.1 %

TGT stock traded down $3.56 on Thursday, reaching $163.51. 69,211 shares of the company traded hands, compared to its average volume of 6,408,547. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.86 and a quick ratio of 0.14. The firm has a fifty day simple moving average of $158.96 and a 200-day simple moving average of $159.01. Target Co. has a one year low of $137.16 and a one year high of $254.87. The company has a market cap of $75.26 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.96 and a beta of 1.02.

Target (NYSE:TGTGet Rating) last posted its quarterly earnings results on Wednesday, November 16th. The retailer reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.61). The company had revenue of $26.12 billion during the quarter, compared to analysts’ expectations of $26.40 billion. Target had a return on equity of 30.51% and a net margin of 3.17%. Target’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.03 EPS. Research analysts anticipate that Target Co. will post 5.71 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be issued a $1.08 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 2.64%. Target’s payout ratio is currently 59.18%.

Insider Activity at Target

In other Target news, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares of the company’s stock, valued at approximately $19,660,918.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. DA Davidson upped their price target on shares of Target to $203.00 in a research report on Monday, August 22nd. Royal Bank of Canada reduced their price target on Target from $223.00 to $206.00 and set an “outperform” rating on the stock in a research report on Thursday, November 17th. StockNews.com assumed coverage on Target in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley cut their target price on shares of Target from $190.00 to $155.00 and set an “equal weight” rating on the stock in a report on Thursday, November 17th. Finally, Robert W. Baird lowered their price target on shares of Target from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, November 17th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.07.

About Target

(Get Rating)

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.

Read More

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.