United Asset Strategies Inc. Raises Stock Position in Target Co. (NYSE:TGT)

by · The Markets Daily

United Asset Strategies Inc. raised its stake in shares of Target Co. (NYSE:TGT – Free Report) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,985 shares of the retailer’s stock after purchasing an additional 370 shares during the quarter. United Asset Strategies Inc.’s holdings in Target were worth $777,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norden Group LLC increased its stake in shares of Target by 1,433.1% in the 1st quarter. Norden Group LLC now owns 29,159 shares of the retailer’s stock worth $5,167,000 after acquiring an additional 27,257 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Target by 0.5% in the 1st quarter. Private Advisor Group LLC now owns 74,166 shares of the retailer’s stock worth $13,143,000 after acquiring an additional 355 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Target in the 1st quarter worth about $727,000. Retirement Group LLC increased its stake in shares of Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after acquiring an additional 91 shares in the last quarter. Finally, Prosperity Consulting Group LLC increased its stake in shares of Target by 61.1% in the 1st quarter. Prosperity Consulting Group LLC now owns 3,277 shares of the retailer’s stock worth $581,000 after acquiring an additional 1,243 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of Target 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 sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’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 approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. 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 quarter. Insiders own 0.15% of the company’s stock.

Target Price Performance

NYSE TGT opened at $150.00 on Friday. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The stock has a market cap of $69.10 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.92 and a beta of 1.24. The company’s 50 day moving average is $153.19 and its two-hundred day moving average is $151.50. 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 – Get Free Report) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.80 EPS. As a group, research analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 2.99%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 46.28%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Melius Research assumed coverage on shares of Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Citigroup increased their price objective on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI cut their price objective on shares of Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Target currently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

View Our Latest Report on Target

Target Profile

(Free Report)

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.

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