Target Co. (NYSE:TGT) Stake Decreased by Allworth Financial LP

Allworth Financial LP trimmed its holdings in Target Co. (NYSE:TGT) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,571 shares of the retailer’s stock after selling 1,976 shares during the quarter. Allworth Financial LP’s holdings in Target were worth $5,076,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TGT. Washington Trust Advisors Inc. raised its position 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. Williams Jones Wealth Management LLC. raised its holdings in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after acquiring an additional 68 shares in the last quarter. Beacon Capital Management LLC lifted its position in shares of Target by 20.8% in the 2nd 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. Integral Investment Advisors Inc. grew its holdings in shares of Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after purchasing an additional 69 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Monday, August 26th. UBS Group raised their price objective on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen increased their price target on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Sanford C. Bernstein began coverage on Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.47.

Target Stock Up 0.7 %

NYSE:TGT opened at $151.16 on Friday. The stock’s fifty day moving average price is $153.38 and its two-hundred day moving average price is $151.95. The company has a market cap of $69.93 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 50.28%.

Insider Activity 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 transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $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 have sold 52,348 shares of company stock worth $8,290,995 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Target Company 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.