Target Co. (NYSE:TGT) Holdings Lowered by Ledge Wealth Management Inc.

Ledge Wealth Management Inc. lowered its stake in Target Co. (NYSE:TGT) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,064 shares of the retailer’s stock after selling 1,806 shares during the quarter. Ledge Wealth Management Inc.’s holdings in Target were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TGT. BTC Capital Management Inc. grew its position in Target by 1.8% during the second quarter. BTC Capital Management Inc. now owns 26,530 shares of the retailer’s stock valued at $3,498,000 after purchasing an additional 479 shares in the last quarter. New Hampshire Trust increased its holdings in shares of Target by 9.1% during the 2nd quarter. New Hampshire Trust now owns 6,077 shares of the retailer’s stock valued at $802,000 after acquiring an additional 506 shares during the last quarter. Capital Investment Advisors LLC acquired a new position in Target during the second quarter valued at approximately $3,297,000. CRA Financial Services LLC raised its holdings in Target by 18.3% in the 2nd quarter. CRA Financial Services LLC now owns 2,266 shares of the retailer’s stock worth $299,000 after acquiring an additional 350 shares during the period. Finally, Peoples Financial Services CORP. lifted its position in shares of Target by 3.0% during the 2nd quarter. Peoples Financial Services CORP. now owns 6,262 shares of the retailer’s stock worth $826,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 78.33% of the company’s stock.

Target Stock Down 3.6 %

Shares of Target stock traded down $4.42 on Monday, hitting $118.63. The company had a trading volume of 1,444,372 shares, compared to its average volume of 4,370,645. The stock has a 50-day moving average of $129.09 and a 200-day moving average of $142.93. Target Co. has a twelve month low of $118.55 and a twelve month high of $181.70. The firm has a market capitalization of $54.76 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.15 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.83 and a quick ratio of 0.18.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.80 EPS for the quarter, topping the consensus estimate of $1.41 by $0.39. The firm had revenue of $24.77 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. Research analysts predict that Target Co. will post 7.6 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on TGT shares. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a report on Thursday. DA Davidson reiterated a “buy” rating and set a $193.00 price objective on shares of Target in a research note on Wednesday, August 16th. Raymond James lowered shares of Target from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 26th. Piper Sandler reduced their price target on shares of Target from $220.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on Target from $115.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $159.21.

Insider Activity

In related news, insider Brian C. Cornell sold 30,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $130.70, for a total transaction of $3,921,000.00. Following the transaction, the insider now directly owns 399,669 shares in the company, valued at $52,236,738.30. The sale was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by insiders.

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.