Target Co. (NYSE:TGT) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its holdings in Target Co. (NYSE:TGTFree Report) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,542 shares of the retailer’s stock after selling 484 shares during the period. NewEdge Wealth LLC’s holdings in Target were worth $1,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Tower View Wealth Management LLC increased its position in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Sittner & Nelson LLC lifted its stake in Target by 150.6% in the second quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock worth $28,000 after acquiring an additional 128 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in shares of Target in the 2nd quarter valued at $31,000. WFA of San Diego LLC acquired a new position in shares of Target in the 2nd quarter valued at $33,000. Finally, Penserra Capital Management LLC acquired a new position in Target in the 4th quarter valued at $35,000. 78.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGT has been the topic of several research analyst reports. Tigress Financial decreased their target price on shares of Target from $215.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Telsey Advisory Group increased their price objective on shares of Target from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, November 16th. TD Cowen cut Target from an “outperform” rating to a “market perform” rating and cut their target price for the company from $161.00 to $148.00 in a research note on Thursday, November 16th. Morgan Stanley upgraded Target from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $140.00 to $165.00 in a research note on Tuesday, January 16th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $140.00 target price on shares of Target in a research note on Thursday, November 16th. Fourteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.15.

Check Out Our Latest Stock Report on Target

Target Trading Up 1.5 %

Shares of TGT opened at $144.43 on Wednesday. The business’s 50-day moving average price is $139.60 and its 200 day moving average price is $127.11. The stock has a market capitalization of $66.68 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.10 and a beta of 1.11. Target Co. has a 1-year low of $102.93 and a 1-year high of $177.29. The company has a current ratio of 0.86, a quick ratio of 0.18 and a debt-to-equity ratio of 1.19.

Target (NYSE:TGTGet Free Report) last issued its quarterly earnings results on Wednesday, November 15th. The retailer reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.62. Target had a return on equity of 30.69% and a net margin of 3.40%. The firm had revenue of $25 billion for the quarter, compared to analysts’ expectations of $25.28 billion. During the same quarter last year, the business posted $1.54 EPS. Target’s revenue was down 4.3% on a year-over-year basis. Analysts expect that Target Co. will post 8.34 earnings per share for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $4.40 annualized dividend and a yield of 3.05%. Target’s dividend payout ratio (DPR) is presently 56.12%.

Insider Activity

In related news, insider Christina Hennington sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $130.55, for a total value of $522,200.00. Following the completion of the sale, the insider now directly owns 38,451 shares in the company, valued at approximately $5,019,778.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Christina Hennington sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $130.55, for a total transaction of $522,200.00. Following the completion of the transaction, the insider now directly owns 38,451 shares in the company, valued at $5,019,778.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Don H. Liu sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $130.00, for a total value of $2,080,000.00. Following the sale, the insider now owns 48,882 shares in the company, valued at $6,354,660. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $3,127,520 in the last three months. 0.23% of the stock is owned by insiders.

Target Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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