Marcum Wealth LLC Grows Stake in Target Co. (NYSE:TGT)

Marcum Wealth LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,554 shares of the retailer’s stock after purchasing an additional 188 shares during the period. Marcum Wealth LLC’s holdings in Target were worth $710,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. grew its holdings in Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Williams Jones Wealth Management LLC. increased its holdings in Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after buying an additional 68 shares during the last quarter. Beacon Capital Management LLC increased its holdings in Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after buying an additional 69 shares during the last quarter. Integral Investment Advisors Inc. lifted its holdings in Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after buying an additional 69 shares during the last quarter. Finally, Haverford Trust Co boosted its position in shares of Target by 0.3% during the 1st quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock worth $4,868,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 1.1 %

Shares of TGT stock opened at $155.97 on Friday. The business’s fifty day moving average price is $149.30 and its 200 day moving average price is $153.60. The firm has a market capitalization of $72.16 billion, a PE ratio of 17.51, a P/E/G ratio of 2.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.80 EPS. As a group, sell-side analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

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 $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Analyst Ratings Changes

TGT has been the topic of several research analyst reports. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. UBS Group upped their price objective on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Daiwa America upgraded Target to a “strong-buy” rating in a research report on Monday, August 26th. Jefferies Financial Group upped their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler started coverage on Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s 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 sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 in the last ninety days. Corporate insiders own 0.23% 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.