Target Co. (NYSE:TGT) Insider Sells $997,715.16 in Stock

Target Co. (NYSE:TGT) insider Richard H. Gomez sold 6,348 shares of the business’s 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 transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Target Price Performance

TGT opened at $152.20 on Wednesday. The stock has a 50-day moving average price of $148.89 and a 200-day moving average price of $154.24. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $70.41 billion, a P/E ratio of 17.08, a PEG ratio of 2.00 and a beta of 1.24.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.80 EPS. Equities analysts predict that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

Institutional Investors Weigh In On Target

Institutional investors have recently bought and sold shares of the stock. Triad Wealth Partners LLC purchased a new stake in Target during the 2nd quarter valued at about $25,000. Washington Trust Advisors Inc. lifted its holdings in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the period. Slocum Gordon & Co LLP purchased a new stake in Target in the 2nd quarter worth approximately $28,000. Retirement Group LLC lifted its holdings in Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after buying an additional 91 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Target in the 4th quarter worth approximately $28,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Daiwa America upgraded Target to a “strong-buy” rating in a research note on Monday, August 26th. Stifel Nicolaus boosted their target price on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group boosted their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have assigned 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 $179.69.

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.