White Knight Strategic Wealth Advisors LLC Acquires Shares of 2,272 Target Co. (NYSE:TGT)

White Knight Strategic Wealth Advisors LLC bought a new position in Target Co. (NYSE:TGT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,272 shares of the retailer’s stock, valued at approximately $354,000.

Other large investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new stake in Target in the second quarter worth about $25,000. Slocum Gordon & Co LLP bought a new stake in shares of Target during the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC purchased a new position in Target during the 2nd quarter valued at $31,000. Wolff Wiese Magana LLC grew its position in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Target in the second quarter worth $37,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of recent analyst reports. Piper Sandler lowered their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Roth Mkm lowered their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Jefferies Financial Group raised their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein began coverage on Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target for the company. Finally, Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $130.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus target price of $160.30.

Target Stock Up 1.8 %

TGT stock opened at $132.39 on Friday. The stock has a market capitalization of $60.99 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 2.13 and a beta of 1.24. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $148.86 and a 200 day moving average of $148.59.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $2.10 earnings per share. Sell-side analysts forecast that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th 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 3.38%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 47.51%.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

About Target

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.