SVB Wealth LLC Trims Position in Target Co. (NYSE:TGT)

SVB Wealth LLC lessened its position in shares of Target Co. (NYSE:TGT) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,255 shares of the retailer’s stock after selling 559 shares during the quarter. SVB Wealth LLC’s holdings in Target were worth $1,460,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TGT. Tower View Wealth Management LLC grew its holdings in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after purchasing an additional 106 shares during the period. First Capital Advisors Group LLC. bought a new stake in Target during the second quarter valued at about $31,000. Penserra Capital Management LLC bought a new stake in Target during the fourth quarter valued at about $35,000. Impact Partnership Wealth LLC grew its holdings in Target by 106.6% during the third quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock valued at $45,000 after purchasing an additional 209 shares during the period. Finally, Friedenthal Financial bought a new stake in Target during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 1.3 %

Shares of TGT stock opened at $166.58 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The stock’s 50 day simple moving average is $163.25 and its two-hundred day simple moving average is $140.52. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The company has a market cap of $76.91 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.53 and a beta of 1.14.

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

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.64%. Target’s payout ratio is 49.27%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays boosted their price target on Target from $142.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Wells Fargo & Company upped 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. TheStreet raised Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. DA Davidson upped their price objective on Target from $167.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Truist Financial upped their price objective on Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.85.

Insider Transactions at Target

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