Ascent Group LLC Has $1.15 Million Stock Position in Target Co. (NYSE:TGT)

Posted by Defense World Staff on Mar 15th, 2023

Target logo Ascent Group LLC increased its position in shares of Target Co. (NYSE:TGT – Get Rating) by 23.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,025 shares of the retailer’s stock after buying an additional 1,323 shares during the period. Ascent Group LLC’s holdings in Target were worth $1,154,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Baird Financial Group Inc. increased its position in shares of Target by 0.4% during the 3rd quarter. Baird Financial Group Inc. now owns 620,368 shares of the retailer’s stock worth $92,056,000 after purchasing an additional 2,425 shares in the last quarter. Carlson Capital Management boosted its stake in Target by 7.1% during the 3rd quarter. Carlson Capital Management now owns 9,311 shares of the retailer’s stock worth $1,382,000 after acquiring an additional 619 shares during the last quarter. Clearstead Advisors LLC boosted its stake in Target by 4.9% during the 3rd quarter. Clearstead Advisors LLC now owns 29,645 shares of the retailer’s stock worth $4,399,000 after acquiring an additional 1,391 shares during the last quarter. CreativeOne Wealth LLC lifted its position in Target by 9.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 13,314 shares of the retailer’s stock valued at $1,976,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Target by 6.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 26,733 shares of the retailer’s stock worth $3,967,000 after purchasing an additional 1,718 shares during the period. 78.86% of the stock is owned by institutional investors.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 35,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total value of $5,564,300.00. Following the completion of the transaction, the insider now directly owns 191,272 shares of the company’s stock, valued at approximately $30,408,422.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Target Trading Up 0.3 %

Target stock opened at $158.37 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.22 and a debt-to-equity ratio of 1.43. Target Co. has a 12 month low of $137.16 and a 12 month high of $254.87. The stock’s 50 day simple moving average is $165.98 and its two-hundred day simple moving average is $160.72. The firm has a market cap of $72.91 billion, a PE ratio of 26.48, a P/E/G ratio of 1.27 and a beta of 1.05.

Target (NYSE:TGT – Get Rating) last announced its earnings results on Tuesday, February 28th. The retailer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.49. Target had a return on equity of 25.63% and a net margin of 2.55%. The firm had revenue of $31.40 billion for the quarter, compared to analyst estimates of $30.73 billion. During the same quarter last year, the firm posted $3.19 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Analysts anticipate that Target Co. will post 8.42 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.73%. The ex-dividend date is Tuesday, May 16th. Target’s dividend payout ratio is currently 72.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TGT shares. Royal Bank of Canada reduced their price objective on shares of Target from $223.00 to $206.00 and set an “outperform” rating for the company in a research note on Thursday, November 17th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $185.00 target price on shares of Target in a report on Wednesday, March 1st. Raymond James increased their price target on shares of Target from $185.00 to $195.00 and gave the stock a “strong-buy” rating in a research report on Thursday, March 2nd. Wells Fargo & Company lowered shares of Target from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $170.00 to $142.00 in a research report on Wednesday, January 4th. Finally, Barclays assumed coverage on shares of Target in a research report on Tuesday, February 7th. They issued an “equal weight” rating and a $163.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus target price of $181.69.

About Target

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.