Heritage Investors Management Corp Buys 2,919 Shares of Target Co. (NYSE:TGT)

Heritage Investors Management Corp boosted its position in Target Co. (NYSE:TGT) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,608 shares of the retailer’s stock after acquiring an additional 2,919 shares during the quarter. Heritage Investors Management Corp’s holdings in Target were worth $6,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Target by 1.3% during the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock valued at $760,000 after buying an additional 70 shares during the period. Welch & Forbes LLC boosted its holdings in Target by 0.9% during the 4th quarter. Welch & Forbes LLC now owns 7,715 shares of the retailer’s stock valued at $1,099,000 after acquiring an additional 71 shares during the period. Beacon Financial Advisory LLC grew its position in Target by 1.0% during the 4th quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock worth $1,005,000 after acquiring an additional 72 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in Target by 1.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 5,704 shares of the retailer’s stock worth $812,000 after purchasing an additional 76 shares during the period. Finally, Janiczek Wealth Management LLC boosted its stake in shares of Target by 18.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 494 shares of the retailer’s stock valued at $70,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE TGT traded up $4.75 during trading hours on Thursday, hitting $164.34. The company’s stock had a trading volume of 2,537,731 shares, compared to its average volume of 3,663,545. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The company has a market cap of $76.03 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The company’s 50 day simple moving average is $166.96 and its two-hundred day simple moving average is $146.00. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The firm had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio is 49.27%.

Insiders Place Their Bets

In other news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,600 shares of company stock valued at $8,819,598. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the topic of several analyst reports. Barclays lifted their target price on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Truist Financial increased their target price on shares of Target from $142.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday. The Goldman Sachs Group increased their price objective on Target from $176.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, TheStreet raised Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus price target of $181.85.

Target Company 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.