Plan Group Financial LLC Acquires 699 Shares of Target Co. (NYSE:TGT)

Plan Group Financial LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,758 shares of the retailer’s stock after purchasing an additional 699 shares during the quarter. Plan Group Financial LLC’s holdings in Target were worth $742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its holdings in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. increased its holdings in shares of Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after purchasing an additional 68 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares during the last quarter. Integral Investment Advisors Inc. increased its holdings in shares of Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the last quarter. Finally, Trust Co. of Vermont increased its holdings in shares of Target by 0.4% in the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $148.92 on Wednesday. The company has a market cap of $68.90 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The stock has a 50 day simple moving average of $152.82 and a 200-day simple moving average of $152.26. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

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 analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $1.80 EPS. On average, equities analysts forecast that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The company also recently declared 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 dividend yield of 3.01%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Wall Street Analyst Weigh In

Several research firms recently commented on TGT. StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Piper Sandler assumed coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price for the company. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Monday, August 26th. Stifel Nicolaus raised 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. Finally, Jefferies Financial Group raised their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have assigned 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 an average price target of $179.47.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Target 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 transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 in the last quarter. Company insiders own 0.23% of the company’s stock.

About Target

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.