Target Co. (NYSE:TGT) Shares Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC boosted its stake in Target Co. (NYSE:TGT) by 10,689.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,488 shares of the retailer’s stock after purchasing an additional 160,982 shares during the period. Strategic Financial Concepts LLC’s holdings in Target were worth $24,055,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. grew its stake in shares of 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 in the last quarter. Williams Jones Wealth Management LLC. boosted its holdings in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after acquiring an additional 68 shares during the period. Beacon Capital Management LLC grew its position in Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares in the last quarter. Integral Investment Advisors Inc. raised its stake in shares of Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the period. Finally, Godshalk Welsh Capital Management Inc. lifted its position in shares of Target by 0.9% during the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after purchasing an additional 70 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TGT has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 target price on shares of Target in a research report on Wednesday, August 21st. Wells Fargo & Company increased their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Evercore ISI lifted their price objective on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a report on Thursday, August 22nd. Finally, BMO Capital Markets reduced their target price on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.68.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 owns 7,276 shares in the company, valued at approximately $1,114,173.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s 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 directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $151.28 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 firm has a market capitalization of $69.99 billion, a PE ratio of 16.98, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The business’s fifty day moving average price is $147.63 and its two-hundred day moving average price is $155.09.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business 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 company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.80 EPS. On average, research analysts expect that Target Co. will post 9.49 EPS for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 2.96%. Target’s payout ratio is currently 50.28%.

About Target

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.