Concentric Wealth Management LLC Purchases 1,032 Shares of Target Co. (NYSE:TGT)

Concentric Wealth Management LLC lifted its position in shares of Target Co. (NYSE:TGT) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,218 shares of the retailer’s stock after acquiring an additional 1,032 shares during the quarter. Target makes up 1.5% of Concentric Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Concentric Wealth Management LLC’s holdings in Target were worth $6,268,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SVB Wealth LLC lifted its stake in shares of Target by 7.7% during the 1st quarter. SVB Wealth LLC now owns 11,040 shares of the retailer’s stock valued at $1,956,000 after buying an additional 785 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Target during the first quarter worth $2,127,000. Janus Henderson Group PLC boosted its holdings in shares of Target by 20.5% in the first quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock worth $38,484,000 after acquiring an additional 36,941 shares during the period. Industrial Alliance Investment Management Inc. grew its position in shares of Target by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,583 shares of the retailer’s stock valued at $458,000 after purchasing an additional 109 shares in the last quarter. Finally, Whalerock Point Partners LLC raised its stake in shares of Target by 2.1% during the 1st quarter. Whalerock Point Partners LLC now owns 24,215 shares of the retailer’s stock valued at $4,291,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 2.8 %

TGT opened at $125.01 on Monday. The stock has a market cap of $57.59 billion, a PE ratio of 13.26, a PEG ratio of 2.05 and a beta of 1.24. The business has a 50 day moving average of $151.27 and a 200-day moving average of $149.54. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $2.10 EPS. Equities research analysts predict that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.58%. Target’s payout ratio is currently 47.51%.

Insider Activity at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 12.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on TGT shares. TD Cowen cut their target price on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday. Piper Sandler lowered their price objective on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday. Melius Research started coverage on Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 target price for the company. Roth Mkm lowered their price target on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.13.

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.