Cornerstone Advisors LLC Sells 1,000 Shares of Target Co. (NYSE:TGT)

Cornerstone Advisors LLC reduced its holdings in shares of Target Co. (NYSE:TGT) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,200 shares of the retailer’s stock after selling 1,000 shares during the period. Cornerstone Advisors LLC’s holdings in Target were worth $2,990,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Citizens Financial Group Inc. RI increased its position in Target by 7.5% in the second quarter. Citizens Financial Group Inc. RI now owns 65,209 shares of the retailer’s stock worth $9,653,000 after buying an additional 4,526 shares in the last quarter. One Capital Management LLC raised its stake in shares of Target by 9.7% during the second quarter. One Capital Management LLC now owns 64,527 shares of the retailer’s stock valued at $9,553,000 after acquiring an additional 5,716 shares in the last quarter. Sierra Summit Advisors LLC raised its stake in shares of Target by 9.5% during the second quarter. Sierra Summit Advisors LLC now owns 9,178 shares of the retailer’s stock valued at $1,359,000 after acquiring an additional 796 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Target by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after buying an additional 435,229 shares during the period. Finally, Waycross Partners LLC lifted its holdings in Target by 10.8% during the second quarter. Waycross Partners LLC now owns 122,435 shares of the retailer’s stock worth $18,125,000 after buying an additional 11,945 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Bank of America upped their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Robert W. Baird restated an “outperform” rating and set a $190.00 target price on shares of Target in a report on Thursday, May 23rd. Truist Financial increased their price objective on Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Citigroup increased their price objective on Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, TD Cowen increased their price objective on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.68.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target 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 in the company, valued at approximately $48,210,768.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Target Trading Up 1.0 %

TGT opened at $152.92 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The company’s 50 day simple moving average is $148.10 and its two-hundred day simple moving average is $155.07. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The firm has a market capitalization of $70.75 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

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

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.