Private Advisory Group LLC Raises Stock Holdings in Target Corporation $TGT

Private Advisory Group LLC lifted its holdings in shares of Target Corporation (NYSE:TGT) by 16.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,410 shares of the retailer’s stock after acquiring an additional 16,786 shares during the period. Private Advisory Group LLC’s holdings in Target were worth $10,442,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TGT. WFA of San Diego LLC purchased a new position in Target during the 2nd quarter worth $25,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Target during the third quarter worth about $27,000. Tripletail Wealth Management LLC purchased a new position in shares of Target during the third quarter worth about $31,000. Key Financial Inc increased its position in Target by 77.4% in the 3rd 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 increased its position in Target by 1,113.8% in the 2nd 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 owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TGT shares. Truist Financial increased their price target on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. Mizuho cut their price objective on shares of Target from $94.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Wolfe Research raised shares of Target from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 27th. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price target on shares of Target in a research note on Thursday, December 18th. Finally, Guggenheim raised their price objective on shares of Target from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Ten research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Target currently has a consensus rating of “Hold” and an average price target of $104.45.

Target Trading Up 0.8%

Shares of TGT opened at $116.62 on Monday. Target Corporation has a twelve month low of $83.44 and a twelve month high of $127.89. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $52.81 billion, a P/E ratio of 14.15, a PEG ratio of 11.93 and a beta of 1.14. The firm’s 50-day moving average is $106.09 and its two-hundred day moving average is $97.39.

Target Dividend Announcement

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

About Target

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.