Berry Wealth Group LP Boosts Position in Target Co. (NYSE:TGT)

Berry Wealth Group LP boosted its stake in shares of Target Co. (NYSE:TGT) by 23.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,602 shares of the retailer’s stock after buying an additional 304 shares during the quarter. Berry Wealth Group LP’s holdings in Target were worth $237,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in shares of Target in the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in Target in the fourth quarter worth approximately $28,000. Private Wealth Management Group LLC purchased a new position in Target in the fourth quarter worth approximately $29,000. Scarborough Advisors LLC purchased a new stake in shares of Target during the 4th quarter worth approximately $29,000. Finally, Godsey & Gibb Inc. lifted its position in shares of Target by 148.6% during the 1st quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler assumed coverage on shares of Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target for the company. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. BNP Paribas initiated coverage on shares of Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $179.68.

Target Stock Performance

TGT traded up $0.20 during trading hours on Friday, hitting $153.62. 3,933,162 shares of the stock were exchanged, compared to its average volume of 5,506,365. The stock has a 50-day simple moving average of $147.18 and a 200-day simple moving average of $154.95. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The stock has a market cap of $71.07 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. Analysts anticipate that Target Co. will post 9.49 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 2.92%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is currently 50.28%.

Target 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.