Modera Wealth Management LLC Sells 6,185 Shares of Target Co. (NYSE:TGT)

Modera Wealth Management LLC reduced its holdings in Target Co. (NYSE:TGT) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,277 shares of the retailer’s stock after selling 6,185 shares during the period. Modera Wealth Management LLC’s holdings in Target were worth $22,331,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Little House Capital LLC acquired a new position in Target during the 1st quarter valued at $1,041,000. Nordea Investment Management AB raised its position in shares of Target by 23.6% during the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after buying an additional 122,706 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after buying an additional 6,690 shares during the period. Janney Capital Management LLC acquired a new stake in Target during the first quarter worth about $13,958,000. Finally, Van ECK Associates Corp increased its stake in Target by 17.3% during the first quarter. Van ECK Associates Corp now owns 55,392 shares of the retailer’s stock valued at $9,816,000 after acquiring an additional 8,185 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on TGT shares. Daiwa America upgraded Target to a “strong-buy” rating in a research report on Monday, August 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Thursday, September 19th. Sanford C. Bernstein started coverage on shares of Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target on the stock. StockNews.com downgraded shares of Target from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus upped their target price on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Insider Activity

In related news, 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 transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 in the last 90 days. 0.23% of the stock is owned by company insiders.

Target Trading Up 0.7 %

Shares of TGT opened at $151.16 on Friday. The stock’s fifty day simple moving average is $153.38 and its 200-day simple moving average is $151.95. 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 firm has a market capitalization of $69.93 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its 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 company had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 EPS. As a group, research analysts predict that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given 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 of this dividend is Wednesday, November 20th. Target’s payout ratio is 50.28%.

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.