Waterway Wealth Management LLC Takes Position in Target Co. (NYSE:TGT)

Waterway Wealth Management LLC acquired a new stake in shares of Target Co. (NYSE:TGT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,825 shares of the retailer’s stock, valued at approximately $440,000.

Other hedge funds also recently made changes to their positions in the company. Berry Wealth Group LP grew its position in shares of Target by 7.4% during the third quarter. Berry Wealth Group LP now owns 1,720 shares of the retailer’s stock worth $268,000 after buying an additional 118 shares in the last quarter. Trilogy Capital Inc. grew its position in shares of Target by 5.3% during the third quarter. Trilogy Capital Inc. now owns 19,221 shares of the retailer’s stock worth $2,996,000 after buying an additional 959 shares in the last quarter. McClarren Financial Advisors Inc. grew its position in shares of Target by 44.4% during the third quarter. McClarren Financial Advisors Inc. now owns 641 shares of the retailer’s stock worth $99,000 after buying an additional 197 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Target by 57.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 183,365 shares of the retailer’s stock worth $28,579,000 after buying an additional 66,870 shares in the last quarter. Finally, Vest Financial LLC grew its position in shares of Target by 24.3% during the third quarter. Vest Financial LLC now owns 336,000 shares of the retailer’s stock worth $52,369,000 after buying an additional 65,775 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 3.8 %

Shares of TGT stock opened at $150.91 on Tuesday. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The company has a market capitalization of $69.82 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.99 and a beta of 1.24. The firm has a 50-day moving average price of $152.57 and a 200 day moving average price of $152.42. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

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 the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period last year, the firm posted $1.80 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts forecast that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TGT. Citigroup raised their price target on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein began coverage on shares of Target in a research report on Tuesday. They set a “market perform” rating and a $168.00 price target for the company. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Monday, August 26th. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer decreased their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Target currently has an average rating of “Moderate Buy” and a consensus target price of $179.30.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This 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. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This 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, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock valued at $8,290,995 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

Target 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.