Target Co. (NYSE:TGT) Stake Lowered by E&G Advisors LP

E&G Advisors LP trimmed its stake in shares of Target Co. (NYSE:TGT) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,192 shares of the retailer’s stock after selling 190 shares during the quarter. E&G Advisors LP’s holdings in Target were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC bought a new position in shares of Target during the second quarter worth about $25,000. Slocum Gordon & Co LLP acquired a new position in Target during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in Target in the 2nd quarter worth about $31,000. Washington Trust Advisors Inc. raised its holdings in shares of Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 over the last ninety days. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TGT. Daiwa America upgraded Target to a “strong-buy” rating in a research report on Monday, August 26th. Melius Research began coverage on shares of Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Citigroup upped their price target on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $195.00 target price on shares of Target in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.69.

Target Stock Up 0.6 %

TGT stock opened at $156.84 on Friday. The company has a 50 day moving average of $152.25 and a two-hundred day moving average of $152.73. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The company has a market cap of $72.56 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter last year, the firm earned $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is presently 50.28%.

About Target

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.