Powers Advisory Group LLC Purchases 179 Shares of Target Co. (NYSE:TGT)

Powers Advisory Group LLC increased its position in Target Co. (NYSE:TGT) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,281 shares of the retailer’s stock after acquiring an additional 179 shares during the quarter. Powers Advisory Group LLC’s holdings in Target were worth $969,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Horrell Capital Management Inc. increased its stake in shares of Target by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after buying an additional 76 shares during the period. Fiducient Advisors LLC increased its stake in shares of Target by 4.6% during the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock valued at $240,000 after buying an additional 78 shares during the period. Napatree Capital LLC increased its stake in shares of Target by 2.4% during the fourth quarter. Napatree Capital LLC now owns 3,609 shares of the retailer’s stock valued at $488,000 after buying an additional 85 shares during the period. Legacy Investment Solutions LLC increased its stake in shares of 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. Finally, Bontempo Ohly Capital Mgmt LLC increased its stake in shares of Target by 0.3% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer’s stock valued at $3,875,000 after buying an additional 85 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Target Price Performance

Shares of TGT stock opened at $95.25 on Friday. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The firm has a market capitalization of $43.28 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock’s 50-day simple moving average is $95.48 and its 200-day simple moving average is $115.23.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. Target’s revenue was down 2.8% on a year-over-year basis. As a group, equities analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.70%. Target’s dividend payout ratio (DPR) is presently 49.23%.

Analysts Set New Price Targets

TGT has been the topic of several research reports. Cfra Research lowered Target from a “moderate buy” rating to a “hold” rating in a research note on Thursday, April 17th. Royal Bank of Canada cut their price target on Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Truist Financial raised their price target on Target from $82.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, May 22nd. KGI Securities set a $132.00 price target on Target in a research note on Wednesday, March 5th. Finally, Mizuho cut their price target on Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $116.70.

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.