Forum Financial Management LP Grows Position in Target Co. (NYSE:TGT)

Forum Financial Management LP raised its holdings in shares of Target Co. (NYSE:TGT) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,006 shares of the retailer’s stock after buying an additional 152 shares during the quarter. Forum Financial Management LP’s holdings in Target were worth $468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TGT. Triad Wealth Partners LLC acquired a new position in shares of Target during the 2nd quarter valued at about $25,000. Slocum Gordon & Co LLP acquired a new position in shares of Target during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new position in Target in the second quarter valued at about $31,000. Washington Trust Advisors Inc. lifted its position in 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 buying an additional 64 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its position in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was 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, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target 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 of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent analyst reports. Melius Research initiated coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. Bank of America upped their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Jefferies Financial Group upped their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein initiated coverage on shares of Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Target currently has an average rating of “Moderate Buy” and an average target price of $179.47.

Target Stock Performance

Shares of Target stock opened at $149.99 on Tuesday. The firm has a market capitalization of $69.10 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.94 and a beta of 1.24. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $152.86 and its two-hundred day moving average is $151.11.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating 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 business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the prior year, the company earned $1.80 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Research analysts forecast that Target Co. will post 9.54 EPS for the current fiscal year.

Target Announces Dividend

The business 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 dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

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.