Tower Bridge Advisors Sells 100 Shares of Target Co. (NYSE:TGT)

Tower Bridge Advisors cut its holdings in shares of Target Co. (NYSE:TGT) by 1.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,724 shares of the retailer’s stock after selling 100 shares during the period. Tower Bridge Advisors’ holdings in Target were worth $892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC bought a new stake in Target during the 2nd quarter worth about $25,000. Slocum Gordon & Co LLP bought a new stake in Target during the 2nd quarter worth about $28,000. Hobbs Group Advisors LLC bought a new stake in Target during the 2nd quarter worth about $31,000. Wolff Wiese Magana LLC lifted its position in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Target in the 2nd quarter valued at about $37,000. 79.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

TGT has been the topic of a number of research analyst reports. Evercore ISI dropped their target price on shares of Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a report on Tuesday, October 22nd. UBS Group upped their target price on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Royal Bank of Canada upped their target price on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Bank of America upped their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Citigroup upped their target price on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $179.47.

Target Stock Performance

Shares of NYSE:TGT opened at $152.13 on Friday. The company’s 50 day moving average price is $152.56 and its two-hundred day moving average price is $150.39. Target Co. has a 12-month low of $127.19 and a 12-month high of $181.86. The firm has a market cap of $70.08 billion, a PE ratio of 15.72, a PEG ratio of 2.01 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 (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share 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 company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the prior year, the firm posted $1.80 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Target Co. will post 9.55 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 46.28%.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’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 transaction 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. This represents a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the company’s 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 sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,348 shares of company stock valued at $8,290,995. Company 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.