Austin Private Wealth LLC Cuts Stake in Target Co. (NYSE:TGT)

Austin Private Wealth LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,862 shares of the retailer’s stock after selling 136 shares during the quarter. Austin Private Wealth LLC’s holdings in Target were worth $290,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Washington Trust Advisors Inc. boosted its position in 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 period. Financial Advocates Investment Management raised its holdings in shares of Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after acquiring an additional 67 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its stake in Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after acquiring an additional 68 shares during the period. Beacon Capital Management LLC lifted its stake in Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the period. Finally, Integral Investment Advisors Inc. boosted its holdings in Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TGT shares. Truist Financial raised their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Morgan Stanley restated an “overweight” rating and issued a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Wells Fargo & Company upped their target price on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. TD Cowen raised their target price on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, Roth Mkm upped their price target on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Target Price Performance

NYSE:TGT traded up $0.89 during trading hours on Tuesday, hitting $150.88. 339,667 shares of the stock traded hands, compared to its average volume of 3,901,426. The stock has a 50 day moving average price of $152.86 and a 200 day moving average price of $151.11. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company has a market cap of $69.51 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. Target Co. has a 1 year low of $105.23 and a 1 year high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the prior year, the firm posted $1.80 EPS. Target’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Target Co. will post 9.54 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.97%. Target’s payout ratio is 46.28%.

Insider Buying and Selling at Target

In other Target 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 sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

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.