Biltmore Family Office LLC Boosts Stake in Target Co. (NYSE:TGT)

by · The Markets Daily

Biltmore Family Office LLC increased its position in Target Co. (NYSE:TGT – Free Report) by 9.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,111 shares of the retailer’s stock after purchasing an additional 184 shares during the quarter. Biltmore Family Office LLC’s holdings in Target were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in Target during the second quarter valued at $25,000. Slocum Gordon & Co LLP purchased a new position in Target during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new stake in Target during the second quarter worth about $31,000. Wolff Wiese Magana LLC boosted its stake in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Target during the third quarter valued at approximately $38,000. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 12.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TGT. Sanford C. Bernstein initiated coverage on Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target on the stock. Evercore ISI cut their target price on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday. BMO Capital Markets dropped their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Roth Mkm reduced their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

Read Our Latest Research Report on Target

Target Stock Performance

Shares of TGT opened at $121.66 on Friday. The business has a 50-day simple moving average of $151.79 and a two-hundred day simple moving average of $149.92. 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 52 week low of $120.21 and a 52 week high of $181.86. The stock has a market cap of $56.05 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.03 and a beta of 1.24.

Target (NYSE:TGT – Get Free Report) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the previous year, the business posted $2.10 EPS. Target’s revenue was up .9% on a year-over-year basis. On average, analysts expect that Target Co. will post 9.55 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 46.28%.

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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