Target Corporation (NYSE:TGT) Shares Purchased by HighMark Wealth Management LLC

by · The Markets Daily

HighMark Wealth Management LLC grew its holdings in shares of Target Corporation (NYSE:TGT – Free Report) by 69.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 611 shares of the retailer’s stock after buying an additional 250 shares during the quarter. HighMark Wealth Management LLC’s holdings in Target were worth $64,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in Target during the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Target during the fourth quarter worth $29,000. Legacy Investment Solutions LLC lifted its position in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Target in the fourth quarter valued at $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Target during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TGT shares. Wall Street Zen lowered shares of Target from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Piper Sandler set a $94.00 price objective on Target and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Roth Mkm restated a “neutral” rating and set a $122.00 price objective (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Finally, Bank of America cut Target from a “buy” rating to a “neutral” rating and reduced their target price for the company from $145.00 to $105.00 in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $116.70.

Read Our Latest Analysis on TGT

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider now directly owns 246,453 shares of the company’s stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Target Stock Up 1.0%

TGT stock opened at $97.64 on Friday. The firm’s 50-day simple moving average is $96.04 and its 200 day simple moving average is $113.06. The stock has a market cap of $44.36 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 2.78 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40.

Target (NYSE:TGT – Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. Target’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 earnings per share. As a group, sell-side analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.59%. Target’s dividend payout ratio is currently 49.23%.

Target Company Profile

(Free Report)

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.

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