Cornerstone Wealth Management LLC Has $968,000 Stock Position in Target Co. (NYSE:TGT)

Cornerstone Wealth Management LLC lifted its holdings in Target Co. (NYSE:TGT) by 41.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,212 shares of the retailer’s stock after acquiring an additional 1,817 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Target were worth $968,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Boston Partners bought a new position in Target during the 1st quarter worth $335,870,000. AQR Capital Management LLC increased its holdings in Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after buying an additional 768,479 shares during the period. Swedbank AB acquired a new position in shares of Target in the 1st quarter valued at approximately $107,367,000. Clearbridge Investments LLC lifted its holdings in shares of Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after acquiring an additional 470,647 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after acquiring an additional 440,307 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Stock Down 1.9 %

Shares of Target stock opened at $155.91 on Friday. Target Co. has a one year low of $105.23 and a one year high of $181.86. 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 stock’s 50-day moving average is $151.83 and its 200 day moving average is $153.04. The firm has a market cap of $72.13 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.99 and a beta of 1.24.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.87%. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock worth $8,290,995 over the last quarter. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TGT shares. Truist Financial boosted their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 price target on shares of Target in a report on Thursday, September 19th. Jefferies Financial Group raised their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Daiwa America raised Target to a “strong-buy” rating in a report on Monday, August 26th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.69.

Target 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.