Target Corporation $TGT Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its holdings in shares of Target Corporation (NYSE:TGT) by 54.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,746 shares of the retailer’s stock after buying an additional 5,184 shares during the quarter. NewEdge Wealth LLC’s holdings in Target were worth $1,356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. WFA of San Diego LLC purchased a new position in shares of Target during the 2nd quarter valued at about $25,000. Heartwood Wealth Advisors LLC acquired a new stake in Target during the third quarter worth about $27,000. Tripletail Wealth Management LLC purchased a new position in Target during the third quarter valued at approximately $31,000. Key Financial Inc lifted its holdings in Target by 77.4% in the third quarter. Key Financial Inc now owns 346 shares of the retailer’s stock valued at $31,000 after acquiring an additional 151 shares during the period. Finally, VSM Wealth Advisory LLC lifted its holdings in Target by 1,113.8% in the second quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock valued at $35,000 after acquiring an additional 323 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Up 0.8%

TGT stock opened at $116.62 on Monday. Target Corporation has a 52 week low of $83.44 and a 52 week high of $127.89. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The firm has a 50-day simple moving average of $106.09 and a 200-day simple moving average of $97.39. The stock has a market capitalization of $52.81 billion, a P/E ratio of 14.15, a P/E/G ratio of 11.93 and a beta of 1.14.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. Target’s payout ratio is currently 55.34%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of analyst reports. Guggenheim raised their price objective on shares of Target from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Morgan Stanley restated an “overweight” rating and set a $125.00 price target on shares of Target in a research report on Thursday, January 15th. TD Cowen cut their price objective on shares of Target from $105.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, November 20th. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 target price on shares of Target in a research note on Wednesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft set a $108.00 target price on Target in a research report on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus price target of $104.45.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.