Perkins Capital Management Inc. Sells 1,775 Shares of Target Co. (NYSE:TGT)

Perkins Capital Management Inc. trimmed its holdings in shares of Target Co. (NYSE:TGT) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,500 shares of the retailer’s stock after selling 1,775 shares during the quarter. Perkins Capital Management Inc.’s holdings in Target were worth $857,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TGT. Norden Group LLC raised its stake in shares of Target by 17.2% during the first quarter. Norden Group LLC now owns 2,229 shares of the retailer’s stock valued at $395,000 after acquiring an additional 327 shares in the last quarter. Csenge Advisory Group bought a new stake in Target during the 1st quarter valued at $248,000. Advisory Alpha LLC purchased a new stake in shares of Target in the 1st quarter worth $237,000. Advisory Services Network LLC grew its position in shares of Target by 0.8% during the 1st quarter. Advisory Services Network LLC now owns 19,152 shares of the retailer’s stock worth $3,394,000 after buying an additional 155 shares in the last quarter. Finally, Empirical Finance LLC grew its position in shares of Target by 3.4% during the 1st quarter. Empirical Finance LLC now owns 16,911 shares of the retailer’s stock worth $2,997,000 after buying an additional 553 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 price objective on shares of Target in a research note on Thursday, September 19th. StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a report on Monday. Jefferies Financial Group lifted their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock worth $8,290,995 in the last three months. 0.15% of the stock is owned by corporate insiders.

Target Stock Down 2.5 %

NYSE TGT opened at $147.29 on Thursday. The business has a fifty day moving average price of $152.52 and a 200 day moving average price of $150.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a market cap of $67.85 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.95 and a beta of 1.24. Target Co. has a one year low of $105.23 and a one year high of $181.86.

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

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is currently 46.28%.

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.