Keudell Morrison Wealth Management Lowers Stock Holdings in Target Co. (NYSE:TGT)

Keudell Morrison Wealth Management trimmed its position in Target Co. (NYSE:TGT) by 31.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,539 shares of the retailer’s stock after selling 703 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Target were worth $240,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. raised its stake in 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 purchasing an additional 6,690 shares in the last quarter. TAP Consulting LLC purchased a new stake in Target in the third quarter valued at approximately $2,403,000. Janus Henderson Group PLC raised its stake in Target by 20.5% in the first quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock valued at $38,484,000 after purchasing an additional 36,941 shares in the last quarter. Eagle Rock Investment Company LLC raised its stake in Target by 166.3% in the third quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock valued at $2,522,000 after purchasing an additional 10,103 shares in the last quarter. Finally, Swedbank AB bought a new position in Target during the first quarter valued at approximately $107,367,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was 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 $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 in the last quarter. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent research reports. Evercore ISI reduced their price target on shares of Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Jefferies Financial Group increased their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 price target on shares of Target in a research report on Thursday, September 19th. StockNews.com upgraded shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Daiwa Capital Markets upgraded shares of 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $179.47.

Target Stock Performance

Shares of Target stock opened at $150.91 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $69.52 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.93 and a beta of 1.24. The business has a fifty day simple moving average of $152.52 and a two-hundred day simple moving average of $150.96. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. 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 posted $1.80 earnings per share. On average, equities analysts forecast that Target Co. will post 9.54 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

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.