United Asset Strategies Inc. Buys 5,490 Shares of Target Corporation $TGT

Key Points

• United Asset Strategies Inc. has increased its position in Target Corporation by 105%, owning over 10,700 shares worth approximately $1.12 million.
• Target recently declared a quarterly dividend of $1.12 per share, reflecting an annualized dividend yield of 4.6%, payable on September 1st.
• Analysts have mixed ratings for Target; the average rating is currently a "Hold" with a consensus price target of $113.55.

United Asset Strategies Inc. raised its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 105.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,721 shares of the retailer's stock after acquiring an additional 5,490 shares during the period. United Asset Strategies Inc.'s holdings in Target were worth $1,119,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in Target during the 4th quarter valued at $29,000. Heck Capital Advisors LLC bought a new position in Target during the 4th quarter valued at $40,000. Bellwether Advisors LLC bought a new position in Target during the 4th quarter valued at $47,000. Mascagni Wealth Management Inc. bought a new position in Target during the 4th quarter valued at $49,000. Finally, Atwood & Palmer Inc. lifted its stake in Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after acquiring an additional 352 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company'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 sale, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on TGT shares. Guggenheim restated a "buy" rating and set a $115.00 price objective on shares of Target in a research note on Thursday. Robert W. Baird set a $100.00 target price on Target in a research note on Thursday, May 22nd. BMO Capital Markets lowered their target price on Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Thursday, May 22nd. UBS Group lowered their target price on Target from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Loop Capital set a $95.00 target price on Target in a research note on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.74.

Target Stock Performance

Target stock traded down $2.19 during midday trading on Monday, reaching $97.05. The stock had a trading volume of 7,637,181 shares, compared to its average volume of 7,152,869. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.84. The firm's 50-day moving average price is $102.06 and its 200 day moving average price is $103.42. The firm has a market capitalization of $44.10 billion, a PE ratio of 11.31, a P/E/G ratio of 2.86 and a beta of 1.22. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the previous year, the business posted $2.57 EPS. The firm's quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.6%. Target's dividend payout ratio is currently 53.15%.

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.