Forum Financial Management LP Has $365,000 Stock Holdings in Target Co. (NYSE:TGT)

Posted by on Apr 3rd, 2023

Forum Financial Management LP raised its stake in shares of Target Co. (NYSE:TGT – Get Rating) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,451 shares of the retailer’s stock after purchasing an additional 156 shares during the quarter. Forum Financial Management LP’s holdings in Target were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Plancorp LLC boosted its holdings in Target by 2.1% during the first quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock valued at $535,000 after purchasing an additional 53 shares in the last quarter. Physicians Financial Services Inc. boosted its holdings in Target by 0.4% during the second quarter. Physicians Financial Services Inc. now owns 14,882 shares of the retailer’s stock valued at $2,102,000 after purchasing an additional 59 shares in the last quarter. Oliver Lagore Vanvalin Investment Group boosted its holdings in Target by 13.5% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 506 shares of the retailer’s stock valued at $75,000 after purchasing an additional 60 shares in the last quarter. Titleist Asset Management LTD. boosted its holdings in Target by 1.7% during the third quarter. Titleist Asset Management LTD. now owns 3,644 shares of the retailer’s stock valued at $541,000 after purchasing an additional 62 shares in the last quarter. Finally, Enterprise Financial Services Corp boosted its holdings in Target by 1.7% during the third quarter. Enterprise Financial Services Corp now owns 3,774 shares of the retailer’s stock valued at $560,000 after purchasing an additional 63 shares in the last quarter. 78.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TheStreet raised Target from a “c+” rating to a “b-” rating in a report on Thursday, February 16th. Robert W. Baird boosted their target price on Target from $180.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Barclays assumed coverage on Target in a report on Tuesday, February 7th. They issued an “equal weight” rating and a $163.00 target price on the stock. StockNews.com assumed coverage on Target in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Cowen reduced their target price on Target from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, February 15th. Thirteen research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.69.

Target Price Performance

Shares of TGT stock opened at $165.63 on Monday. Target Co. has a 12-month low of $137.16 and a 12-month high of $254.87. The firm has a market capitalization of $76.25 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.05. The company has a quick ratio of 0.22, a current ratio of 0.92 and a debt-to-equity ratio of 1.43. The firm has a fifty day moving average of $166.16 and a 200-day moving average of $160.16.

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

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, May 16th. Target’s dividend payout ratio (DPR) is 72.24%.

Insider Activity

In other news, insider Brian C. Cornell sold 35,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were 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 owns 191,272 shares of the company’s stock, valued at approximately $30,408,422.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

Target Profile

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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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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