Drive Wealth Management LLC Makes New $209,000 Investment in Target Co. (NYSE:TGT)

Drive Wealth Management LLC bought a new position in Target Co. (NYSE:TGTFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,471 shares of the retailer’s stock, valued at approximately $209,000.

Other large investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Target by 3,577.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares of the retailer’s stock worth $312,000 after acquiring an additional 1,431 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in Target by 3.3% during the first quarter. Zions Bancorporation N.A. now owns 3,045 shares of the retailer’s stock worth $646,000 after purchasing an additional 96 shares during the last quarter. Covestor Ltd increased its stake in Target by 131.7% during the first quarter. Covestor Ltd now owns 702 shares of the retailer’s stock valued at $149,000 after purchasing an additional 399 shares during the last quarter. Merit Financial Group LLC bought a new stake in Target during the first quarter valued at $208,000. Finally, Ergoteles LLC raised its holdings in shares of Target by 191.5% during the first quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock worth $2,503,000 after purchasing an additional 7,748 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $176.24 on Wednesday. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $81.37 billion, a PE ratio of 19.74, a P/E/G ratio of 1.66 and a beta of 1.14. The firm has a 50-day moving average price of $156.27 and a 200 day moving average price of $135.87.

Target (NYSE:TGTGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. During the same period in the prior year, the company earned $1.89 EPS. Target’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is 49.27%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Target news, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. In the last three months, insiders sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research reports. Barclays increased their target price on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Bank of America increased their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Guggenheim increased their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average target price of $180.12.

Check Out Our Latest Report on Target

Target Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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