Choreo LLC Purchases 12,526 Shares of Target Co. (NYSE:TGT)

Choreo LLC boosted its position in shares of Target Co. (NYSE:TGT) by 79.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,367 shares of the retailer’s stock after purchasing an additional 12,526 shares during the period. Choreo LLC’s holdings in Target were worth $4,137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Triad Wealth Partners LLC purchased a new stake in shares of Target in the 2nd quarter worth $25,000. Washington Trust Advisors Inc. raised its position in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Slocum Gordon & Co LLP purchased a new stake in shares of Target during the 2nd quarter worth $28,000. Retirement Group LLC boosted its position in Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after purchasing an additional 91 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Target in the fourth quarter valued at about $28,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,000 shares of Target 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 transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Target Trading Down 0.5 %

TGT opened at $150.59 on Tuesday. The stock has a market capitalization of $69.37 billion, a PE ratio of 16.90, a P/E/G ratio of 1.95 and a beta of 1.24. Target Co. has a one year low of $102.93 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The business’s 50 day moving average price is $147.73 and its 200 day moving average price is $155.14.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period last year, the company earned $1.80 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Target Co. will post 9.53 EPS for the current year.

Target Increases Dividend

The company also recently declared 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. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is currently 50.28%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Telsey Advisory Group raised their price target on shares of Target from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Robert W. Baird restated an “outperform” rating and issued a $190.00 target price on shares of Target in a research note on Thursday, May 23rd. Piper Sandler began coverage on Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price on the stock. BNP Paribas assumed coverage on Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and two have assigned 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 $179.68.

Target Company 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.