Marks Group Wealth Management Inc Sells 10,420 Shares of Target Corporation $TGT

Marks Group Wealth Management Inc lowered its position in Target Corporation (NYSE:TGT) by 64.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,852 shares of the retailer’s stock after selling 10,420 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Target were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. WFA of San Diego LLC purchased a new position in Target in the second quarter worth about $25,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Target during the 3rd quarter valued at about $27,000. Tripletail Wealth Management LLC bought a new position in shares of Target in the 3rd quarter worth approximately $31,000. Key Financial Inc boosted its holdings in shares of Target by 77.4% in the third quarter. Key Financial Inc now owns 346 shares of the retailer’s stock worth $31,000 after buying an additional 151 shares during the last quarter. Finally, VSM Wealth Advisory LLC boosted its holdings in shares of Target by 1,113.8% in the second quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock worth $35,000 after buying an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 3.1%

NYSE TGT opened at $113.04 on Tuesday. Target Corporation has a 12 month low of $83.44 and a 12 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 stock has a market cap of $51.19 billion, a PE ratio of 13.72, a P/E/G ratio of 11.93 and a beta of 1.14. The stock’s 50 day moving average is $106.40 and its 200 day moving average is $97.44.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s payout ratio is 55.34%.

Analysts Set New Price Targets

A number of brokerages have commented on TGT. Piper Sandler upped their target price on shares of Target from $85.00 to $102.00 and gave the company a “neutral” rating in a report on Monday. Jefferies Financial Group restated a “buy” rating and issued a $115.00 price objective on shares of Target in a research note on Thursday, December 18th. Citigroup raised their target price on Target from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Guggenheim boosted their price target on Target from $110.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Sanford C. Bernstein reduced their price target on Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.03.

Target Company Profile

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.