Target Co. (NYSE:TGT) Shares Sold by Canopy Partners LLC

Canopy Partners LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,411 shares of the retailer’s stock after selling 112 shares during the quarter. Canopy Partners LLC’s holdings in Target were worth $999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Triad Wealth Partners LLC acquired a new stake in Target in the second quarter valued at $25,000. Slocum Gordon & Co LLP acquired a new stake in shares of Target during the 2nd quarter worth about $28,000. Hobbs Group Advisors LLC purchased a new stake in Target during the second quarter worth approximately $31,000. Wolff Wiese Magana LLC boosted its holdings in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Target in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $125.01 on Friday. The firm has a market cap of $57.59 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. The business’s 50 day moving average is $151.27 and its 200-day moving average is $149.69. The company has a current ratio of 0.94, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 earnings per share. Equities research analysts predict that Target Co. will post 9.58 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 paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 47.51%.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents a 12.08 % 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 worth $8,290,995. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TGT. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Monday, August 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Wednesday. Jefferies Financial Group lifted their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Truist Financial increased their price objective on Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Melius Research started coverage on shares of Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

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.