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

NewEdge Wealth LLC trimmed its stake in shares of Target Co. (NYSE:TGT) by 62.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,688 shares of the retailer’s stock after selling 7,854 shares during the quarter. NewEdge Wealth LLC’s holdings in Target were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in TGT. Tower View Wealth Management LLC lifted its holdings in Target by 82.8% in 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 period. First Capital Advisors Group LLC. acquired a new position in shares of Target during the second quarter valued at approximately $31,000. Penserra Capital Management LLC bought a new stake in Target during the fourth quarter worth approximately $35,000. Impact Partnership Wealth LLC raised its holdings in Target by 106.6% during the third quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock worth $45,000 after purchasing an additional 209 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in Target in the fourth quarter worth approximately $45,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT stock opened at $163.31 on Wednesday. The stock has a market cap of $75.40 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.56 and a beta of 1.14. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The firm has a 50 day simple moving average of $162.51 and a 200 day simple moving average of $140.17. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion during the quarter, compared to analyst estimates of $31.83 billion. During the same quarter last year, the business posted $1.89 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts anticipate that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is currently 49.27%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TGT shares. Morgan Stanley boosted their price objective on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Guggenheim boosted their price target on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Citigroup raised their price objective on shares of Target from $142.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Bank of America lifted their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI cut their target price on shares of Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.85.

Insider Transactions at Target

In related news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $8,819,598 in the last three months. Corporate insiders own 0.23% of the company’s stock.

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.