Target Co. (NYSE:TGT) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 567,552 shares of the retailer’s stock after selling 119,888 shares during the period. HighTower Advisors LLC’s holdings in Target were worth $88,443,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in shares of Target during the second quarter worth $25,000. Slocum Gordon & Co LLP acquired a new position in shares of Target during the second quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Target during the second quarter worth $31,000. Wolff Wiese Magana LLC increased its position in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Target during the third quarter worth $36,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TGT shares. Stifel Nicolaus dropped their price objective on shares of Target from $165.00 to $137.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Roth Mkm dropped their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. StockNews.com lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Truist Financial boosted their price objective on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Target has a consensus rating of “Hold” and an average target price of $160.30.

Target Stock Up 0.5 %

TGT opened at $131.38 on Wednesday. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $147.88 and a 200 day moving average price of $148.04. The company has a market cap of $60.20 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.17.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 EPS. Sell-side analysts expect that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.41%. Target’s payout ratio is 47.51%.

Insider Buying and Selling at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by 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.