LRI Investments LLC Sells 950 Shares of Target Co. (NYSE:TGT)

LRI Investments LLC cut its position in Target Co. (NYSE:TGT) by 68.6% in the third quarter, HoldingsChannel.com reports. The firm owned 434 shares of the retailer’s stock after selling 950 shares during the period. LRI Investments LLC’s holdings in Target were worth $67,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. M&G Plc purchased a new stake in Target during the second quarter valued at approximately $3,650,000. ORG Partners LLC lifted its holdings in shares of Target by 13,104.2% during the 2nd quarter. ORG Partners LLC now owns 6,338 shares of the retailer’s stock valued at $925,000 after purchasing an additional 6,290 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Target by 5.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 124,240 shares of the retailer’s stock worth $18,392,000 after purchasing an additional 6,332 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Target by 5.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 4,395 shares of the retailer’s stock worth $651,000 after buying an additional 209 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft increased its position in Target by 52.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 6,511 shares of the retailer’s stock valued at $935,000 after buying an additional 2,251 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TGT. Citigroup lowered Target from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $188.00 to $130.00 in a research note on Wednesday, November 20th. Truist Financial upped their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Jefferies Financial Group lifted their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Bank of America cut their target price on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Piper Sandler dropped their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $160.57.

Target Stock Down 0.1 %

TGT opened at $135.09 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a market cap of $61.90 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.17. The company has a 50-day moving average price of $145.97 and a 200 day moving average price of $147.52.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter last year, the business earned $2.10 EPS. The business’s revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 47.51%.

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.