Target Co. (NYSE:TGT) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC cut its stake in Target Co. (NYSE:TGT) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,869 shares of the retailer’s stock after selling 470 shares during the period. Larson Financial Group LLC’s holdings in Target were worth $863,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TGT. Godsey & Gibb Inc. increased its holdings in shares of Target by 148.6% during the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Retirement Group LLC increased its holdings in shares of Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after purchasing an additional 91 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target during the fourth quarter valued at $28,000. Private Wealth Management Group LLC acquired a new position in shares of Target during the fourth quarter valued at $29,000. Finally, Rakuten Securities Inc. acquired a new position in Target during the fourth quarter worth about $29,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Down 1.0 %

Shares of TGT traded down $1.49 during midday trading on Wednesday, reaching $146.11. 4,101,594 shares of the stock were exchanged, compared to its average volume of 3,915,659. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The firm has a 50 day simple moving average of $150.36 and a 200-day simple moving average of $153.67. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The company has a market cap of $67.60 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.40 and a beta of 1.19.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The company had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. During the same period in the previous year, the business posted $2.05 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. Research analysts forecast that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Citigroup raised Target from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, May 7th. BNP Paribas assumed coverage on Target in a report on Monday, June 3rd. They set an “underperform” rating and a $116.00 target price on the stock. Truist Financial decreased their price target on Target from $160.00 to $153.00 and set a “hold” rating for the company in a research report on Thursday, May 23rd. Finally, UBS Group decreased their price target on Target from $191.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and an average target price of $176.57.

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.