Wealthfront Advisers LLC Invests $14.77 Million in Target Corporation $TGT

Wealthfront Advisers LLC purchased a new position in shares of Target Corporation (NYSE:TGT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 113,059 shares of the retailer’s stock, valued at approximately $14,767,000.

A number of other hedge funds have also bought and sold shares of the company. Wynn Capital LLC raised its stake in Target by 0.9% during the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock valued at $1,104,000 after buying an additional 79 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in shares of Target by 16.0% in the 1st quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock valued at $70,000 after acquiring an additional 80 shares during the last quarter. Prosperity Consulting Group LLC raised its position in shares of Target by 3.4% during the 1st quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer’s stock valued at $300,000 after acquiring an additional 81 shares in the last quarter. Versant Capital Management Inc lifted its stake in Target by 3.4% during the second quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer’s stock worth $324,000 after purchasing an additional 82 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its stake in Target by 3.1% during the first quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer’s stock worth $358,000 after purchasing an additional 90 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of TGT opened at $152.63 on Wednesday. The company has a market cap of $69.32 billion, a P/E ratio of 20.16, a PEG ratio of 2.51 and a beta of 0.96. The stock has a fifty day moving average price of $139.08 and a 200 day moving average price of $126.98. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. Target Corporation has a 12 month low of $83.44 and a 12 month high of $156.47.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. On average, research analysts forecast that Target Corporation will post 8.43 earnings per share for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, August 12th. Target’s payout ratio is currently 61.29%.

Target News Summary

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

Insider Activity at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wolfe Research set a $169.00 target price on shares of Target in a research note on Monday, August 3rd. Truist Financial raised their price target on shares of Target from $130.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday. Barclays reaffirmed an “underweight” rating on shares of Target in a report on Monday, June 1st. Jefferies Financial Group boosted their price objective on shares of Target from $161.00 to $177.00 and gave the company a “buy” rating in a research report on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Target in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Target currently has a consensus rating of “Hold” and an average price target of $143.85.

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.