Public Employees Retirement Association of Colorado Sells 45,312 Shares of Target Co. (NYSE:TGT)

Public Employees Retirement Association of Colorado reduced its holdings in shares of Target Co. (NYSE:TGT) by 41.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,078 shares of the retailer’s stock after selling 45,312 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Target were worth $9,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in shares of Target during the 2nd quarter worth $25,000. Washington Trust Advisors Inc. lifted its position in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Slocum Gordon & Co LLP bought a new stake in shares of Target during the 2nd quarter worth $28,000. Retirement Group LLC lifted its position in shares of Target by 85.0% during the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after buying an additional 91 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Target during the 4th quarter worth $28,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Down 1.1 %

TGT stock opened at $154.75 on Friday. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. 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 stock’s 50 day moving average is $148.48 and its 200-day moving average is $154.98. The firm has a market capitalization of $71.59 billion, a PE ratio of 17.37, a P/E/G ratio of 1.90 and a beta of 1.24.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 50.28%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on 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 directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TGT. Jefferies Financial Group 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. Oppenheimer lowered their target price on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Daiwa America raised Target to a “strong-buy” rating in a report on Monday, August 26th. Piper Sandler began coverage on Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Finally, Truist Financial upped their target price on Target from $156.00 to $162.00 and gave the stock 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 given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $179.68.

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.