Moneta Group Investment Advisors LLC lowered its stake in Target Co. (NYSE:TGT) by 96.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 424 shares of the retailer’s stock after selling 11,749 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Target were worth $1,323,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of TGT. Krane Funds Advisors LLC acquired a new stake in Target during the 2nd quarter valued at $25,000. Larson Financial Group LLC acquired a new stake in shares of Target during the 2nd quarter worth about $31,000. Icon Wealth Partners LLC acquired a new stake in shares of Target during the 1st quarter worth about $31,000. Advisory Alpha LLC bought a new stake in shares of Target during the 1st quarter worth about $30,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Target during the 2nd quarter worth about $37,000. 82.09% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:TGT traded down $0.42 during trading hours on Wednesday, reaching $108.41. 1,878,056 shares of the company were exchanged, compared to its average volume of 7,995,068. The company has a market capitalization of $55.15 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.49 and a beta of 0.53. Target Co. has a 1-year low of $60.15 and a 1-year high of $110.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.84 and a quick ratio of 0.21. The business has a 50 day moving average of $93.78 and a 200 day moving average of $84.06.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The firm had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. Target had a return on equity of 27.43% and a net margin of 4.10%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 EPS. As a group, equities research analysts anticipate that Target Co. will post 6.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Tuesday, August 20th. This is an increase from Target’s previous quarterly dividend of $0.64. Target’s payout ratio is 48.98%.
In other Target news, CAO Robert M. Harrison sold 13,540 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $104.66, for a total transaction of $1,417,096.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Edward Mcnamara sold 20,386 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $108.25, for a total value of $2,206,784.50. Following the completion of the sale, the insider now directly owns 64,517 shares in the company, valued at approximately $6,983,965.25. The disclosure for this sale can be found here. Insiders have sold 97,532 shares of company stock valued at $10,121,671 in the last ninety days. 0.24% of the stock is currently owned by company insiders.
Several research analysts have weighed in on TGT shares. Barclays set a $115.00 price target on shares of Target and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Co upgraded Target from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. set a $115.00 target price on Target and gave the company a “buy” rating in a research report on Wednesday, August 21st. Bank of America increased their target price on Target from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Buckingham Research reiterated a “buy” rating and set a $117.00 target price (up previously from $102.00) on shares of Target in a research note on Thursday, August 22nd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $102.37.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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