Pinnacle Wealth Management Advisory Group LLC Decreases Position in Target Corporation (NYSE:TGT)

Pinnacle Wealth Management Advisory Group LLC cut its position in Target Corporation (NYSE:TGT) by 20.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,412 shares of the retailer’s stock after selling 875 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Target were worth $356,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bernard Wealth Management Corp. bought a new stake in Target during the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC grew its position in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after buying an additional 85 shares during the period. Heck Capital Advisors LLC bought a new stake in Target during the fourth quarter valued at approximately $40,000. Bellwether Advisors LLC bought a new position in shares of Target in the fourth quarter worth approximately $47,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Target in the fourth quarter worth approximately $49,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays reiterated an “underweight” rating and issued a $91.00 price target on shares of Target in a research report on Monday, July 21st. Truist Financial upped their price target on shares of Target from $82.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, May 22nd. Baird R W lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. DA Davidson dropped their price target on shares of Target from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Finally, Mizuho lowered their target price on shares of Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Target presently has an average rating of “Hold” and a consensus target price of $115.65.

Target Price Performance

Shares of NYSE TGT opened at $106.48 on Tuesday. The stock has a market capitalization of $48.38 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 3.03 and a beta of 1.22. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40. The firm’s 50 day simple moving average is $99.40 and its 200-day simple moving average is $107.93. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period in the previous year, the business earned $2.03 EPS. Target’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.21%. Target’s dividend payout ratio is currently 49.23%.

Target 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.