Argent Advisors Inc. Sells 1,914 Shares of Target Co. (NYSE:TGT)

Argent Advisors Inc. trimmed its position in shares of Target Co. (NYSE:TGT) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,200 shares of the retailer’s stock after selling 1,914 shares during the period. Argent Advisors Inc.’s holdings in Target were worth $1,954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its stake 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 acquiring an additional 64 shares during the period. Williams Jones Wealth Management LLC. increased its stake in Target by 0.6% during the first 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 during the period. Beacon Capital Management LLC grew its stake in shares of Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares during the period. Godshalk Welsh Capital Management Inc. grew its stake in shares of Target by 0.9% in the 4th quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock valued at $1,158,000 after purchasing an additional 70 shares during the period. Finally, Haverford Trust Co grew its stake in shares of Target by 0.3% in the 1st quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock valued at $4,868,000 after purchasing an additional 70 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BNP Paribas assumed coverage on Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective on the stock. Roth Mkm upped their price objective on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Wells Fargo & Company upped their price objective on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Citigroup boosted their target price on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, TD Cowen boosted their target price on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.68.

Target Trading Up 0.1 %

Shares of TGT traded up $0.20 during trading hours on Friday, reaching $153.62. The stock had a trading volume of 3,884,328 shares, compared to its average volume of 4,042,306. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The firm has a 50-day moving average of $147.03 and a 200 day moving average of $154.86. The company has a market cap of $71.07 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the prior year, the company earned $1.80 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts expect that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 50.28%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s 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 approximately $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is 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.