Magnus Financial Group LLC Boosts Stock Position in Target Co. (NYSE:TGT)

Magnus Financial Group LLC boosted its stake in shares of Target Co. (NYSE:TGT) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,208 shares of the retailer’s stock after acquiring an additional 147 shares during the quarter. Magnus Financial Group LLC’s holdings in Target were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Scarborough Advisors LLC acquired a new position in Target in the 4th quarter valued at $29,000. Wellington Management Group LLP increased its stake in shares of Target by 864.4% during the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after acquiring an additional 51,639 shares during the period. SageView Advisory Group LLC purchased a new position in Target during the fourth quarter worth about $864,000. Boltwood Capital Management acquired a new stake in Target in the first quarter valued at about $217,000. Finally, First Hawaiian Bank boosted its holdings in Target by 23.5% in the 1st quarter. First Hawaiian Bank now owns 7,920 shares of the retailer’s stock valued at $1,404,000 after purchasing an additional 1,509 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

NYSE:TGT opened at $160.65 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The firm has a market cap of $74.32 billion, a PE ratio of 18.03, a P/E/G ratio of 1.99 and a beta of 1.24. The firm has a 50 day simple moving average of $150.88 and a 200-day simple moving average of $152.98. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86.

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

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 50.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TGT shares. Stifel Nicolaus increased their target price on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. UBS Group raised their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Thursday, September 19th. Wells Fargo & Company increased their price target on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, TD Cowen boosted their price objective on shares of Target from $165.00 to $180.00 and gave the stock a “hold” 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’s stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and an average target price of $179.69.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock valued at $8,290,995 in the last three months. Corporate insiders own 0.23% of the company’s stock.

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.