WealthPLAN Partners LLC Has $3.56 Million Stake in Target Co. (TGT)
WealthPLAN Partners LLC lifted its stake in shares of Target Co. (NYSE:TGT) by 7.9% in the 4th quarter, Holdings Channel reports. The firm owned 54,479 shares of the retailer’s stock after buying an additional 3,985 shares during the quarter. Target comprises about 1.0% of WealthPLAN Partners LLC’s portfolio, making the stock its 23rd largest holding. WealthPLAN Partners LLC’s holdings in Target were worth $3,555,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its stake in shares of Target by 10.7% during the third quarter. Oppenheimer & Co. Inc. now owns 65,967 shares of the retailer’s stock worth $3,893,000 after purchasing an additional 6,368 shares during the last quarter. SNS Financial Group LLC raised its position in Target by 11.9% in the fourth quarter. SNS Financial Group LLC now owns 15,239 shares of the retailer’s stock worth $994,000 after acquiring an additional 1,623 shares in the last quarter. Dai Ichi Life Insurance Company Ltd raised its position in Target by 177.0% in the third quarter. Dai Ichi Life Insurance Company Ltd now owns 46,946 shares of the retailer’s stock worth $2,770,000 after acquiring an additional 30,000 shares in the last quarter. Legal & General Group Plc raised its position in Target by 3.5% in the third quarter. Legal & General Group Plc now owns 3,594,505 shares of the retailer’s stock worth $212,117,000 after acquiring an additional 120,278 shares in the last quarter. Finally, Mutual of Omaha Bank Wealth Management raised its position in Target by 27.4% in the fourth quarter. Mutual of Omaha Bank Wealth Management now owns 22,843 shares of the retailer’s stock worth $1,491,000 after acquiring an additional 4,913 shares in the last quarter. Institutional investors and hedge funds own 87.01% of the company’s stock.
Shares of Target stock opened at $70.15 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.95 and a quick ratio of 0.30. The firm has a market capitalization of $38,898.06, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 3.02 and a beta of 0.71. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Wednesday, May 16th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.54%. Target’s payout ratio is currently 46.36%.
Several research analysts have issued reports on TGT shares. ValuEngine upgraded Target from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Moffett Nathanson started coverage on Target in a research report on Monday, December 4th. They issued a “neutral” rating for the company. Vetr cut Target from a “hold” rating to a “sell” rating and set a $73.66 price objective for the company. in a research report on Thursday, February 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of Target in a research report on Thursday, January 11th. Finally, Telsey Advisory Group increased their price objective on Target from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $74.20.
In related news, insider Robert M. Harrison sold 8,557 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total transaction of $656,664.18. Following the sale, the insider now owns 13,288 shares of the company’s stock, valued at $1,019,721.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total value of $234,240.00. Following the sale, the insider now directly owns 16,906 shares in the company, valued at approximately $1,320,020.48. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.
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Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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