Evermay Wealth Management LLC Sells 275 Shares of Target Co. (NYSE:TGT)

Evermay Wealth Management LLC lowered its stake in Target Co. (NYSE:TGT) by 12.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,855 shares of the retailer’s stock after selling 275 shares during the quarter. Evermay Wealth Management LLC’s holdings in Target were worth $289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Washington Trust Advisors Inc. increased its holdings in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Williams Jones Wealth Management LLC. increased its holdings in shares of Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after acquiring an additional 68 shares during the period. Beacon Capital Management LLC increased its holdings in shares of Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares during the period. Integral Investment Advisors Inc. increased its holdings in shares of Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares during the period. Finally, Trust Co. of Vermont increased its holdings in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after acquiring an additional 69 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TGT shares. Citigroup lifted their price target on Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. UBS Group boosted their price objective on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Sanford C. Bernstein started coverage on Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective for the company. Finally, StockNews.com cut Target from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.47.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.15% of the company’s stock.

Target Price Performance

Shares of TGT stock traded up $1.44 during midday trading on Wednesday, reaching $149.37. 559,356 shares of the company traded hands, compared to its average volume of 3,922,058. The firm’s 50 day simple moving average is $153.55 and its two-hundred day simple moving average is $151.53. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The firm has a market cap of $68.81 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24.

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

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.00%. Target’s payout ratio is 46.28%.

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.