Charles Schwab Investment Management Inc. lifted its stake in shares of Target Co. (NYSE:TGT - Free Report) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,053,471 shares of the retailer's stock after purchasing an additional 56,695 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.66% of Target worth $475,914,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. L & S Advisors Inc bought a new stake in shares of Target during the third quarter valued at about $6,473,000. LPL Financial LLC raised its position in Target by 3.1% in the third quarter. LPL Financial LLC now owns 704,168 shares of the retailer's stock worth $109,752,000 after acquiring an additional 21,241 shares in the last quarter. Cypress Capital Group raised its position in Target by 2.9% in the third quarter. Cypress Capital Group now owns 5,548 shares of the retailer's stock worth $865,000 after acquiring an additional 155 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in Target by 2.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 66,594 shares of the retailer's stock worth $10,379,000 after buying an additional 1,385 shares during the period. Finally, Moran Wealth Management LLC acquired a new position in shares of Target in the third quarter worth about $6,370,000. 79.73% of the stock is currently owned by institutional investors.
In other Target news, insider Brian C. Cornell sold 45,000 shares of the company'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 sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.15% of the company's stock.
TGT has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Target from $180.00 to $150.00 and set an "overweight" rating on the stock in a research note on Wednesday. Oppenheimer cut their price objective on Target from $200.00 to $180.00 and set an "outperform" rating for the company in a report on Wednesday, August 14th. Daiwa America raised shares of Target to a "strong-buy" rating in a research report on Monday, August 26th. HSBC lowered Target from a "buy" rating to a "hold" rating and set a $138.00 target price on the stock. in a report on Wednesday. Finally, Melius Research started coverage on Target in a research note on Monday, September 23rd. They issued a "buy" rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Target presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.13.
Get Our Latest Stock Report on Target
TGT stock opened at $121.66 on Friday. 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 company has a 50 day moving average price of $151.79 and a 200 day moving average price of $149.92. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The stock has a market capitalization of $56.05 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.
Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 EPS. Analysts forecast that Target Co. will post 9.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Wednesday, November 20th. Target's payout ratio is 46.28%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Target, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Target wasn't on the list.
While Target currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.