1858 Wealth Management LLC Sells 741 Shares of Target Co. (NYSE:TGT)

1858 Wealth Management LLC lessened its position in Target Co. (NYSE:TGT) by 25.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,209 shares of the retailer’s stock after selling 741 shares during the period. 1858 Wealth Management LLC’s holdings in Target were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TGT. Wellington Management Group LLP grew its position in shares of Target by 864.4% in the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after buying an additional 51,639 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Target during the 1st quarter valued at $38,000. Harbor Investment Advisory LLC raised its holdings in Target by 81.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,886 shares of the retailer’s stock worth $334,000 after purchasing an additional 847 shares in the last quarter. Austin Private Wealth LLC lifted its position in shares of Target by 12.3% in the 1st quarter. Austin Private Wealth LLC now owns 1,756 shares of the retailer’s stock worth $308,000 after purchasing an additional 193 shares during the period. Finally, Annex Advisory Services LLC bought a new stake in shares of Target during the 1st quarter valued at about $200,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TGT shares. 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. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, August 26th. Bank of America increased their price objective on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Oppenheimer decreased their price objective on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Citigroup increased their price objective on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Insider Transactions at Target

In other news, 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 transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. 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 hyperlink. In other news, 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 transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. 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 hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 in the last 90 days. 0.23% of the stock is currently owned by insiders.

Target Stock Performance

Shares of Target stock traded down $5.50 during trading on Monday, hitting $151.34. 1,591,845 shares of the company’s stock traded hands, compared to its average volume of 3,945,257. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 1 year low of $105.23 and a 1 year high of $181.86. The stock has a market capitalization of $70.02 billion, a P/E ratio of 17.60, a PEG ratio of 1.99 and a beta of 1.24. The business has a 50-day simple moving average of $152.25 and a 200-day simple moving average of $152.57.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period last year, the firm posted $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts forecast 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. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

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.