Target Co. (NYSE:TGT) Holdings Reduced by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lessened its holdings in shares of Target Co. (NYSE:TGT) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,050 shares of the retailer’s stock after selling 1,416 shares during the period. Insigneo Advisory Services LLC’s holdings in Target were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Triad Wealth Partners LLC acquired a new position in Target during the 2nd quarter worth $25,000. Washington Trust Advisors Inc. lifted its holdings in Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the period. Slocum Gordon & Co LLP acquired a new stake in Target in the second quarter worth about $28,000. Retirement Group LLC grew its position in Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after buying an additional 91 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Target during the 4th quarter valued at about $28,000. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Target Stock Down 0.7 %

Target stock opened at $155.07 on Thursday. The firm’s 50 day moving average price is $148.58 and its two-hundred day moving average price is $154.64. The firm has a market cap of $71.44 billion, a PE ratio of 17.40, a P/E/G ratio of 2.00 and a beta of 1.24. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

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

Target Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TGT. Morgan Stanley restated an “overweight” rating and issued a $180.00 target price on shares of Target in a research report on Wednesday, August 21st. Piper Sandler started coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Truist Financial raised their price objective on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.69.

About Target

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.