Tradition Wealth Management LLC Buys 2,122 Shares of Target Co. (NYSE:TGT)

Tradition Wealth Management LLC increased its stake in shares of Target Co. (NYSE:TGT) by 16.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,071 shares of the retailer’s stock after acquiring an additional 2,122 shares during the period. Tradition Wealth Management LLC’s holdings in Target were worth $2,349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Triad Wealth Partners LLC bought a new position in shares of Target during the 2nd quarter worth approximately $25,000. Slocum Gordon & Co LLP bought a new position in Target in the 2nd quarter valued at $28,000. Hobbs Group Advisors LLC bought a new position in Target in the 2nd quarter valued at $31,000. Wolff Wiese Magana LLC raised its position in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Target in the 3rd quarter valued at $38,000. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Sanford C. Bernstein assumed coverage on Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective for the company. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. Roth Mkm cut their price objective on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Stifel Nicolaus cut their price objective on Target from $165.00 to $137.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Finally, StockNews.com cut Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $160.30.

Target Stock Performance

Shares of Target stock opened at $132.31 on Friday. The firm has a market cap of $60.95 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. The stock’s 50-day moving average is $148.86 and its 200-day moving average is $148.51. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 earnings per share. Equities analysts predict that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.39%. Target’s payout ratio is presently 47.51%.

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.