Target Co. (NYSE:TGT) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC lowered its stake in Target Co. (NYSE:TGT) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,310 shares of the retailer’s stock after selling 185 shares during the quarter. Argent Capital Management LLC’s holdings in Target were worth $490,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC lifted its stake in Target by 218.9% during the second quarter. LRI Investments LLC now owns 1,384 shares of the retailer’s stock worth $205,000 after purchasing an additional 950 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Target in the 2nd quarter valued at $79,000. Grove Bank & Trust lifted its holdings in Target by 10.6% during the 2nd quarter. Grove Bank & Trust now owns 1,157 shares of the retailer’s stock worth $171,000 after buying an additional 111 shares in the last quarter. Everhart Financial Group Inc. raised its stake in shares of Target by 29.8% in the second quarter. Everhart Financial Group Inc. now owns 1,685 shares of the retailer’s stock valued at $249,000 after acquiring an additional 387 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its holdings in Target by 26.5% in the second quarter. Premier Path Wealth Partners LLC now owns 3,795 shares of the retailer’s stock valued at $562,000 after purchasing an additional 796 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT traded up $1.68 on Friday, hitting $158.50. 3,188,295 shares of the company were exchanged, compared to its average volume of 4,059,595. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The firm has a market capitalization of $73.33 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The business’s fifty day moving average is $145.94 and its 200 day moving average is $154.56.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $1.80 EPS. As a group, sell-side analysts anticipate that Target Co. will post 9.31 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 2.83%. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is 50.28%.

Analyst Upgrades and Downgrades

TGT has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Target from $165.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, August 5th. BMO Capital Markets dropped their price objective on Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday. Bank of America raised their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Citigroup boosted their price objective on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.52.

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.