Prime Capital Investment Advisors LLC Sells 1,527 Shares of Target Co. (NYSE:TGT)

Prime Capital Investment Advisors LLC decreased its holdings in Target Co. (NYSE:TGT) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,020 shares of the retailer’s stock after selling 1,527 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Target were worth $3,276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Advocates Investment Management boosted its stake in shares of Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after purchasing an additional 69 shares during the period. Integral Investment Advisors Inc. increased its holdings in shares of Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of Target by 0.4% in the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its holdings in Target by 9.7% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the retailer’s stock worth $119,000 after buying an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $154.99 on Thursday. The business’s 50-day simple moving average is $152.46 and its 200-day simple moving average is $150.49. The firm has a market capitalization of $71.40 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.01 and a beta of 1.24. Target Co. has a 1-year low of $108.08 and a 1-year high of $181.86. 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 announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the previous year, the company posted $1.80 earnings per share. Target’s revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that Target Co. will post 9.54 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 46.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TGT shares. Roth Mkm lifted their price target on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Citigroup lifted their price objective on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Melius Research started coverage on Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. Stifel Nicolaus lifted their price target on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s 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 completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock valued at $8,290,995 over the last three months. 0.15% of the stock is owned by company insiders.

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.