SOA Wealth Advisors LLC. Trims Stock Position in Target Co. (NYSE:TGT)

SOA Wealth Advisors LLC. trimmed its holdings in Target Co. (NYSE:TGT) by 7.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,946 shares of the retailer’s stock after selling 166 shares during the period. SOA Wealth Advisors LLC.’s holdings in Target were worth $257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aspire Private Capital LLC purchased a new position in shares of Target during the 1st quarter worth $21,129,916,000. Financial Connections Group Inc. purchased a new position in Target during the fourth quarter worth about $28,000. Graham Capital Wealth Management LLC acquired a new stake in shares of Target during the first quarter valued at about $341,198,000. Ritter Daniher Financial Advisory LLC DE purchased a new stake in shares of Target in the 1st quarter valued at approximately $37,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Target in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 78.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Oppenheimer dropped their target price on shares of Target from $190.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 1st. Barclays cut their price objective on Target from $163.00 to $142.00 and set an “equal weight” rating on the stock in a report on Friday, August 11th. The Goldman Sachs Group lowered their target price on Target from $185.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Roth Mkm reissued a “neutral” rating and set a $156.00 price target on shares of Target in a research report on Wednesday, August 16th. Finally, Evercore ISI raised their price objective on shares of Target from $140.00 to $142.00 and gave the company an “in-line” rating in a research note on Friday, September 8th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Target has a consensus rating of “Hold” and an average price target of $159.21.

Target Stock Performance

NYSE:TGT traded down $1.31 during mid-day trading on Friday, reaching $123.46. 1,146,745 shares of the stock were exchanged, compared to its average volume of 4,367,987. The stock has a market capitalization of $56.99 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.15 and a beta of 1.01. Target Co. has a 1 year low of $120.75 and a 1 year high of $181.70. The company has a 50 day simple moving average of $129.23 and a 200-day simple moving average of $143.55. The company has a quick ratio of 0.18, a current ratio of 0.83 and a debt-to-equity ratio of 1.24.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 16th. The retailer reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.39. The business had revenue of $24.77 billion for the quarter, compared to analyst estimates of $25.18 billion. Target had a net margin of 3.12% and a return on equity of 29.43%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. Analysts anticipate that Target Co. will post 7.6 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Brian C. Cornell sold 30,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $130.70, for a total value of $3,921,000.00. Following the transaction, the insider now owns 399,669 shares in the company, valued at approximately $52,236,738.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Target Company 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.