ASB Consultores LLC Reduces Position in Target Co. (NYSE:TGT)

ASB Consultores LLC lessened its holdings in shares of Target Co. (NYSE:TGT) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,416 shares of the retailer’s stock after selling 112 shares during the period. ASB Consultores LLC’s holdings in Target were worth $221,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Washington Trust Advisors Inc. lifted its stake in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after purchasing an additional 67 shares during the period. Williams Jones Wealth Management LLC. lifted its stake in shares of Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after purchasing an additional 68 shares during the period. Beacon Capital Management LLC lifted its stake in shares of Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares during the period. Finally, Integral Investment Advisors Inc. lifted its stake in shares of Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TGT. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. Sanford C. Bernstein began coverage on shares of Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price for the company. Stifel Nicolaus raised their target price on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Truist Financial raised their target price on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Piper Sandler began coverage on shares of Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Target Trading Up 0.7 %

Shares of TGT stock opened at $151.07 on Wednesday. The stock has a market cap of $69.59 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86. The firm’s 50 day moving average price is $152.71 and its two-hundred day moving average price is $150.99.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping 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 business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the previous year, the company posted $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Target Co. will post 9.54 EPS for the current year.

Target Announces Dividend

The company also recently announced 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 2.97%. Target’s payout ratio is currently 46.28%.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were 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 in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. Corporate insiders own 0.15% of the company’s stock.

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.