Elevation Point Wealth Partners LLC Purchases 3,376 Shares of Target Co. (NYSE:TGT)

Elevation Point Wealth Partners LLC lifted its position in shares of Target Co. (NYSE:TGT) by 13.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,192 shares of the retailer’s stock after purchasing an additional 3,376 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Target were worth $3,046,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TGT. Hopwood Financial Services Inc. bought a new stake in Target in the fourth quarter worth about $29,000. Bernard Wealth Management Corp. bought a new stake in Target in the fourth quarter worth about $29,000. Legacy Investment Solutions LLC raised its position in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after acquiring an additional 85 shares during the period. OFI Invest Asset Management bought a new stake in Target in the fourth quarter worth about $36,000. Finally, Heck Capital Advisors LLC bought a new stake in Target in the fourth quarter worth about $40,000. 79.73% of the stock is owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird set a $100.00 target price on shares of Target in a research note on Thursday, May 22nd. Piper Sandler set a $94.00 target price on shares of Target and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Evercore ISI reduced their target price on shares of Target from $130.00 to $120.00 and set an “in-line” rating for the company in a research note on Tuesday, April 1st. Finally, Sanford C. Bernstein downgraded shares of Target from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $97.00 to $82.00 in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus price target of $116.70.

Target Price Performance

TGT stock opened at $95.25 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a one year low of $87.35 and a one year high of $167.40. The stock has a market cap of $43.28 billion, a PE ratio of 10.10, a P/E/G ratio of 1.94 and a beta of 1.22. The firm has a 50 day simple moving average of $95.48 and a two-hundred day simple moving average of $115.23.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. During the same period in the prior year, the firm earned $2.03 EPS. Target’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.70%. Target’s dividend payout ratio (DPR) is 49.23%.

Target Profile

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.