Farther Finance Advisors LLC Increases Stock Position in Target Co. (NYSE:TGT)

Farther Finance Advisors LLC raised its holdings in Target Co. (NYSE:TGT) by 10.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,545 shares of the retailer’s stock after purchasing an additional 730 shares during the period. Farther Finance Advisors LLC’s holdings in Target were worth $1,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Triad Wealth Partners LLC acquired a new stake in Target during the second quarter worth approximately $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Target during the fourth quarter worth approximately $28,000. Private Wealth Management Group LLC acquired a new stake in Target during the fourth quarter worth approximately $29,000. Scarborough Advisors LLC acquired a new stake in Target during the fourth quarter worth approximately $29,000. Finally, Godsey & Gibb Inc. boosted its position in Target by 148.6% during the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.23% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $153.62 on Monday. The firm has a market cap of $71.07 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The firm has a fifty day moving average of $147.18 and a two-hundred day moving average of $155.02.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $1.80 EPS. As a group, research analysts anticipate that Target Co. will post 9.49 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 2.92%. Target’s payout ratio is 50.28%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Truist Financial raised their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday. Roth Mkm increased their price target on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $190.00 price target on shares of Target in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.68.

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.