SevenBridge Financial Group LLC Has $6.09 Million Stock Position in Target Co. (NYSE:TGT)

SevenBridge Financial Group LLC increased its position in Target Co. (NYSE:TGT) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,729 shares of the retailer’s stock after buying an additional 2,644 shares during the period. Target accounts for approximately 1.1% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 22nd biggest holding. SevenBridge Financial Group LLC’s holdings in Target were worth $6,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP acquired a new stake in Target in the third quarter valued at approximately $106,493,000. Larson Financial Group LLC grew its position in Target by 25.0% in the 3rd quarter. Larson Financial Group LLC now owns 8,803 shares of the retailer’s stock valued at $1,372,000 after purchasing an additional 1,760 shares during the period. Okabena Investment Services Inc. increased its stake in Target by 469.5% during the 3rd quarter. Okabena Investment Services Inc. now owns 158,775 shares of the retailer’s stock valued at $24,747,000 after purchasing an additional 130,894 shares in the last quarter. Cerity Partners LLC increased its stake in Target by 13.5% during the 3rd quarter. Cerity Partners LLC now owns 176,584 shares of the retailer’s stock valued at $27,522,000 after purchasing an additional 21,008 shares in the last quarter. Finally, Stonebrook Private Inc. raised its holdings in Target by 3.7% during the third quarter. Stonebrook Private Inc. now owns 2,840 shares of the retailer’s stock worth $443,000 after buying an additional 102 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

NYSE TGT opened at $125.01 on Friday. The firm has a market cap of $57.59 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $151.27 and its 200-day moving average is $149.61. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the firm earned $2.10 EPS. The company’s revenue was up .9% compared to the same quarter last year. Sell-side analysts predict that Target Co. will post 9.58 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is presently 47.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TGT. Bank of America reduced their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday. Melius Research assumed coverage on Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective for the company. Guggenheim lowered their price objective on Target from $180.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada lifted their target price on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Daiwa America raised Target to a “strong-buy” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.13.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the business’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 transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 12.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value 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 trade represents a 12.08 % 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 over the last ninety days. Company insiders own 0.15% of the company’s stock.

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.