L & S Advisors Inc Takes $6.47 Million Position in Target Co. (NYSE:TGT)

L & S Advisors Inc bought a new stake in Target Co. (NYSE:TGT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,534 shares of the retailer’s stock, valued at approximately $6,473,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in shares of Target in the 2nd quarter valued at $25,000. Slocum Gordon & Co LLP bought a new position in shares of Target during the second quarter worth about $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Target during the second quarter valued at about $31,000. Wolff Wiese Magana LLC boosted its stake in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Target in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $122.20 on Thursday. The business’s 50-day moving average price is $152.33 and its 200 day moving average price is $150.12. 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 Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a market capitalization of $56.29 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the prior year, the company earned $2.10 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, research analysts predict that Target Co. will post 9.55 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 46.28%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TGT shares. UBS Group increased their price target on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company reduced their target price on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $180.00 target price on shares of Target in a research report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective 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. Finally, Telsey Advisory Group restated an “outperform” rating and set a $195.00 price objective on shares of Target in a report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.03.

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The sale 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 Target 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock valued at $8,290,995 in the last quarter. Company insiders own 0.15% of the company’s stock.

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.