Berry Wealth Group LP Increases Stock Position in Target Co. (NYSE:TGT)

Berry Wealth Group LP grew its position in shares of Target Co. (NYSE:TGT) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,720 shares of the retailer’s stock after purchasing an additional 118 shares during the quarter. Berry Wealth Group LP’s holdings in Target were worth $268,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trilogy Capital Inc. boosted its position in shares of Target by 5.3% in the 3rd quarter. Trilogy Capital Inc. now owns 19,221 shares of the retailer’s stock valued at $2,996,000 after purchasing an additional 959 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in shares of Target by 44.4% in the third quarter. McClarren Financial Advisors Inc. now owns 641 shares of the retailer’s stock valued at $99,000 after acquiring an additional 197 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Target by 57.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 183,365 shares of the retailer’s stock valued at $28,579,000 after acquiring an additional 66,870 shares during the period. Vest Financial LLC increased its holdings in shares of Target by 24.3% in the 3rd quarter. Vest Financial LLC now owns 336,000 shares of the retailer’s stock valued at $52,369,000 after acquiring an additional 65,775 shares during the period. Finally, Buckley Wealth Management LLC raised its position in Target by 1.0% in the 3rd quarter. Buckley Wealth Management LLC now owns 7,345 shares of the retailer’s stock valued at $1,145,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

TGT stock traded down $5.30 during trading on Monday, hitting $151.54. The stock had a trading volume of 1,730,001 shares, compared to its average volume of 3,945,938. The stock has a market cap of $70.11 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. 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 company’s 50 day moving average price is $152.25 and its two-hundred day moving average price is $152.57. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 earnings per share. On average, sell-side analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.96%. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated 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 owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related 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 value of $7,140,150.00. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of a number of recent research reports. Morgan Stanley restated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Piper Sandler assumed coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective for the company. UBS Group lifted their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Citigroup boosted their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.69.

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.