CMH Wealth Management LLC Makes New Investment in Target Co. (NYSE:TGT)

CMH Wealth Management LLC purchased a new position in shares of Target Co. (NYSE:TGT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,465 shares of the retailer’s stock, valued at approximately $2,616,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Carnick & Kubik Group LLC increased its holdings in shares of Target by 23.0% in the second quarter. Carnick & Kubik Group LLC now owns 60,816 shares of the retailer’s stock valued at $5,268,000 after purchasing an additional 11,376 shares during the last quarter. Breiter Capital Management Inc. grew its stake in shares of Target by 4.0% in the second quarter. Breiter Capital Management Inc. now owns 6,348 shares of the retailer’s stock valued at $483,000 after acquiring an additional 245 shares in the last quarter. Albion Financial Group UT grew its stake in shares of Target by 1.9% in the second quarter. Albion Financial Group UT now owns 32,220 shares of the retailer’s stock valued at $2,791,000 after acquiring an additional 605 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in shares of Target by 10.0% in the second quarter. FinTrust Capital Advisors LLC now owns 2,193 shares of the retailer’s stock valued at $190,000 after acquiring an additional 200 shares in the last quarter. Finally, Goelzer Investment Management Inc. grew its stake in shares of Target by 1.3% in the second quarter. Goelzer Investment Management Inc. now owns 86,320 shares of the retailer’s stock valued at $7,476,000 after acquiring an additional 1,104 shares in the last quarter. 81.80% of the stock is currently owned by hedge funds and other institutional investors.

Target stock traded up $1.26 during trading hours on Friday, reaching $111.83. 4,563,467 shares of the stock were exchanged, compared to its average volume of 4,113,514. The company has a market cap of $55.45 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.54. The company has a current ratio of 0.84, a quick ratio of 0.21 and a debt-to-equity ratio of 1.05. Target Co. has a twelve month low of $60.15 and a twelve month high of $111.25. The stock has a 50 day moving average of $107.22 and a two-hundred day moving average of $88.75.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The firm had revenue of $18.42 billion for the quarter, compared to the consensus estimate of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 earnings per share. On average, analysts expect that Target Co. will post 6.15 earnings per share for the current fiscal year.

Target declared that its board has initiated a stock repurchase program on Thursday, September 19th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the retailer to reacquire up to 9.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.66 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.36%. Target’s dividend payout ratio (DPR) is currently 48.98%.

In related news, insider Don H. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the transaction, the insider now owns 39,890 shares in the company, valued at approximately $4,387,900. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Laysha Ward sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $110.23, for a total transaction of $2,204,600.00. Following the completion of the transaction, the insider now owns 88,171 shares of the company’s stock, valued at approximately $9,719,089.33. The disclosure for this sale can be found here. Insiders sold 83,478 shares of company stock valued at $8,915,363 in the last three months. Company insiders own 0.24% of the company’s stock.

Several research firms recently commented on TGT. Morgan Stanley upped their price target on shares of Target from $76.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Credit Suisse Group set a $112.00 price target on shares of Target and gave the company a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Co upgraded shares of Target from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Wednesday, August 21st. Raymond James began coverage on shares of Target in a research note on Monday. They issued a “strong-buy” rating and a $130.00 price target on the stock. Finally, UBS Group upped their price target on shares of Target from $86.00 to $103.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $105.21.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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