Golden State Equity Partners Cuts Position in Target Co. (NYSE:TGT)

Golden State Equity Partners lowered its stake in shares of Target Co. (NYSE:TGT) by 12.6% during the third quarter, Holdings Channel reports. The institutional investor owned 9,296 shares of the retailer’s stock after selling 1,344 shares during the period. Golden State Equity Partners’ holdings in Target were worth $1,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Target in the 2nd quarter worth approximately $25,000. Washington Trust Advisors Inc. raised its stake in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Slocum Gordon & Co LLP purchased a new stake in shares of Target in the 2nd quarter worth about $28,000. Retirement Group LLC boosted its position in shares of Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after buying an additional 91 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Target in the 2nd quarter valued at about $31,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Up 0.2 %

Shares of NYSE:TGT traded up $0.34 during trading on Wednesday, reaching $148.27. 132,459 shares of the stock were exchanged, compared to its average volume of 3,920,025. The firm’s 50-day moving average price is $153.55 and its 200 day moving average price is $151.53. The firm has a market cap of $68.30 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last announced 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 during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.80 EPS. On average, sell-side analysts anticipate that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.02%. Target’s dividend payout ratio (DPR) is presently 46.28%.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 in the last quarter. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TGT. Citigroup upped their price target on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Melius Research initiated coverage on Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. Truist Financial raised their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price objective on shares of Target in a research report on Thursday, September 19th. Finally, Roth Mkm lifted their price objective on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $179.47.

About Target

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.