WealthPLAN Partners LLC Acquires 10,400 Shares of Target Co. (TGT)

WealthPLAN Partners LLC raised its holdings in Target Co. (NYSE:TGT) by 19.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 64,879 shares of the retailer’s stock after buying an additional 10,400 shares during the quarter. Target makes up about 1.0% of WealthPLAN Partners LLC’s holdings, making the stock its 24th largest position. WealthPLAN Partners LLC’s holdings in Target were worth $4,505,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of Target by 9.4% in the fourth quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock valued at $695,229,000 after buying an additional 916,178 shares in the last quarter. LSV Asset Management boosted its stake in Target by 9.0% in the 1st quarter. LSV Asset Management now owns 7,405,839 shares of the retailer’s stock worth $514,187,000 after purchasing an additional 610,674 shares in the last quarter. American Century Companies Inc. boosted its stake in Target by 17.1% in the 1st quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock worth $492,829,000 after purchasing an additional 1,038,937 shares in the last quarter. Geode Capital Management LLC boosted its stake in Target by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 6,161,995 shares of the retailer’s stock worth $401,296,000 after purchasing an additional 109,029 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Target by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,160,156 shares of the retailer’s stock worth $288,826,000 after purchasing an additional 72,185 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE TGT traded down $0.27 during midday trading on Thursday, reaching $77.75. 78,971 shares of the stock traded hands, compared to its average volume of 6,168,169. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.18 and a current ratio of 0.90. The company has a market capitalization of $42.15 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.50 and a beta of 0.72. Target Co. has a one year low of $48.56 and a one year high of $79.59.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 23rd. The retailer reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). The firm had revenue of $16.78 billion for the quarter, compared to the consensus estimate of $16.58 billion. Target had a net margin of 4.09% and a return on equity of 23.34%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. equities analysts predict that Target Co. will post 5.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Wednesday, August 15th will be given a $0.64 dividend. This is an increase from Target’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 3.29%. Target’s dividend payout ratio (DPR) is currently 52.65%.

In related news, insider Don H. Liu sold 2,735 shares of the firm’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $75.00, for a total value of $205,125.00. Following the completion of the sale, the insider now directly owns 62,210 shares in the company, valued at $4,665,750. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Laysha Ward sold 43,926 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $79.33, for a total value of $3,484,649.58. Following the completion of the sale, the insider now owns 90,460 shares of the company’s stock, valued at $7,176,191.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 170,186 shares of company stock valued at $12,287,710. 0.19% of the stock is owned by corporate insiders.

A number of equities analysts recently issued reports on the stock. Susquehanna Bancshares reiterated a “positive” rating and issued a $84.00 price target on shares of Target in a research note on Thursday, June 7th. Vetr cut shares of Target from a “hold” rating to a “sell” rating and set a $73.66 target price on the stock. in a research note on Tuesday, February 27th. Credit Suisse Group set a $86.00 target price on shares of Target and gave the company a “buy” rating in a research note on Monday, June 4th. MKM Partners set a $91.00 target price on shares of Target and gave the company a “buy” rating in a research note on Tuesday, June 5th. Finally, Citigroup reaffirmed a “neutral” rating and set a $80.00 price target (down previously from $86.00) on shares of Target in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Target has a consensus rating of “Hold” and a consensus target price of $73.58.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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