Thrivent Financial for Lutherans Buys 7,860 Shares of Target Co. (NYSE:TGT)

Thrivent Financial for Lutherans raised its stake in Target Co. (NYSE:TGT) by 39.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,535 shares of the retailer’s stock after acquiring an additional 7,860 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Target were worth $4,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in Target in the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Target in the fourth quarter worth $28,000. Slocum Gordon & Co LLP bought a new stake in shares of Target in the second quarter valued at $28,000. Scarborough Advisors LLC purchased a new position in shares of Target during the 4th quarter valued at $29,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Target in the 2nd quarter worth about $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TGT. Bank of America upped their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Evercore ISI raised their price objective on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a report on Thursday, August 22nd. UBS Group lifted their price objective on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Thursday, September 19th. Finally, Wells Fargo & Company boosted their price objective on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and an average price target of $179.69.

Target Stock Performance

Target stock opened at $155.18 on Friday. The firm has a fifty day simple moving average of $148.75 and a two-hundred day simple moving average of $154.56. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a market capitalization of $71.49 billion, a PE ratio of 17.42, a P/E/G ratio of 2.00 and a beta of 1.24.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 EPS. Research analysts expect that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.89%. Target’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s 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 transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Target Company Profile

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.