Stratos Wealth Partners LTD. Raises Stock Holdings in Target Co. (NYSE:TGT)


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Stratos Wealth Partners LTD. lifted its holdings in Target Co. (NYSE:TGT) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,739 shares of the retailer’s stock after acquiring an additional 1,135 shares during the period. Stratos Wealth Partners LTD.’s holdings in Target were worth $3,910,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Target during the 4th quarter worth $1,007,373,000. BlackRock Inc. boosted its holdings in Target by 7.1% in the 4th quarter. BlackRock Inc. now owns 37,134,621 shares of the retailer’s stock worth $6,555,375,000 after buying an additional 2,462,178 shares during the last quarter. D1 Capital Partners L.P. increased its position in shares of Target by 55.8% during the fourth quarter. D1 Capital Partners L.P. now owns 3,595,477 shares of the retailer’s stock worth $634,710,000 after acquiring an additional 1,288,000 shares during the period. FMR LLC boosted its stake in Target by 23.6% in the fourth quarter. FMR LLC now owns 5,493,847 shares of the retailer’s stock valued at $969,830,000 after acquiring an additional 1,049,440 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Target by 31.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,936,652 shares of the retailer’s stock worth $694,937,000 after buying an additional 950,131 shares during the period. 79.17% of the stock is owned by institutional investors.

Shares of Target stock opened at $211.28 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 1.05 and a debt-to-equity ratio of 0.94. The company has a market cap of $105.13 billion, a PE ratio of 27.98, a P/E/G ratio of 2.64 and a beta of 0.97. The business has a 50 day moving average of $199.83 and a 200 day moving average of $182.75. Target Co. has a 52 week low of $107.63 and a 52 week high of $212.82.

Target (NYSE:TGT) last released its earnings results on Monday, March 1st. The retailer reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.13. Target had a return on equity of 34.94% and a net margin of 4.31%. The firm had revenue of $28 billion for the quarter, compared to analysts’ expectations of $27.42 billion. During the same period in the prior year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. On average, research analysts anticipate that Target Co. will post 9.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Tuesday, May 18th. Target’s dividend payout ratio (DPR) is currently 42.57%.

TGT has been the topic of a number of analyst reports. Cowen raised their target price on shares of Target from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 14th. Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Friday, March 5th. Morgan Stanley increased their price objective on shares of Target from $180.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 20th. Robert W. Baird cut their target price on shares of Target from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, March 9th. Finally, DA Davidson dropped their price target on shares of Target from $229.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, March 9th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Target has an average rating of “Buy” and an average target price of $186.35.

In other Target news, insider Christina Hennington sold 1,852 shares of the stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $183.00, for a total transaction of $338,916.00. Following the completion of the transaction, the insider now owns 25,249 shares of the company’s stock, valued at $4,620,567. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Edward Mcnamara sold 31,423 shares of the firm’s stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $204.32, for a total value of $6,420,347.36. Following the transaction, the insider now owns 139,768 shares of the company’s stock, valued at $28,557,397.76. The disclosure for this sale can be found here. Insiders have sold 39,510 shares of company stock valued at $8,002,521 in the last quarter. 0.52% of the stock is currently owned by company insiders.

Target Company Profile

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

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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