Target Co. (NYSE:TGT) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its holdings in shares of Target Co. (NYSE:TGTGet Rating) by 15.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,633 shares of the retailer’s stock after selling 14,786 shares during the quarter. Private Advisor Group LLC’s holdings in Target were worth $11,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Blume Capital Management Inc. purchased a new position in shares of Target during the 1st quarter worth about $25,000. Delos Wealth Advisors LLC purchased a new position in Target during the fourth quarter worth approximately $29,000. Roble Belko & Company Inc acquired a new position in shares of Target in the 1st quarter valued at $32,000. Cornerstone Advisory LLC purchased a new stake in shares of Target during the 4th quarter valued at $36,000. Finally, Mascoma Wealth Management LLC raised its position in shares of Target by 47.2% in the 1st quarter. Mascoma Wealth Management LLC now owns 181 shares of the retailer’s stock worth $38,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 77.42% of the company’s stock.

Insiders Place Their Bets

In other Target news, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the transaction, the insider now directly owns 118,425 shares in the company, valued at $19,660,918.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Target news, insider John J. Mulligan sold 39,101 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the sale, the insider now directly owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at approximately $488,725.60. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Target Price Performance

Shares of TGT opened at $152.96 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.14 and a debt-to-equity ratio of 1.27. The firm has a market cap of $70.40 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.00 and a beta of 1.02. Target Co. has a 52 week low of $137.16 and a 52 week high of $268.98. The stock has a 50 day moving average of $163.84 and a 200-day moving average of $182.03.

Target (NYSE:TGTGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The retailer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $26.07 billion. Target had a return on equity of 35.15% and a net margin of 3.92%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.64 EPS. As a group, analysts forecast that Target Co. will post 8.11 EPS for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.82%. Target’s dividend payout ratio (DPR) is 49.09%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America upped their price target on Target from $165.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. StockNews.com lowered shares of Target from a “buy” rating to a “hold” rating in a report on Saturday, May 28th. Morgan Stanley decreased their price objective on shares of Target from $255.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 8th. MKM Partners cut their target price on shares of Target from $163.00 to $161.00 and set a “neutral” rating on the stock in a research note on Thursday, August 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Target from $195.00 to $193.00 and set a “buy” rating on the stock in a report on Thursday, August 18th. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.67.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

See Also

Institutional Ownership by Quarter for Target (NYSE:TGT)

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