Signature Wealth Management Group Purchases 3,243 Shares of Target Co. (NYSE:TGT)

Signature Wealth Management Group lifted its stake in Target Co. (NYSE:TGT - Free Report) by 12.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,527 shares of the retailer's stock after purchasing an additional 3,243 shares during the period. Signature Wealth Management Group's holdings in Target were worth $2,977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Target in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC boosted its stake in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares during the period. OFI Invest Asset Management bought a new stake in shares of Target in the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Target in the fourth quarter valued at approximately $40,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

Shares of TGT stock traded up $2.00 during trading hours on Monday, hitting $97.37. 7,415,780 shares of the company were exchanged, compared to its average volume of 6,135,371. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40. The stock has a market capitalization of $44.24 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.94 and a beta of 1.22. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $95.48 and a 200 day simple moving average of $115.02.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the previous year, the business earned $2.03 earnings per share. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is currently 50.11%.

Analyst Upgrades and Downgrades

TGT has been the subject of several research analyst reports. KGI Securities set a $132.00 price target on shares of Target in a report on Wednesday, March 5th. Telsey Advisory Group set a $110.00 price target on shares of Target and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Stifel Nicolaus lowered their price target on shares of Target from $130.00 to $120.00 and set a "hold" rating for the company in a report on Thursday, March 20th. Oppenheimer lowered their price target on shares of Target from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Wells Fargo & Company decreased their price objective on Target from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $116.70.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider now owns 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.16% 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.