Beverly Hills Private Wealth LLC Reduces Stake in Target Co. (NYSE:TGT)

Beverly Hills Private Wealth LLC cut its stake in shares of Target Co. (NYSE:TGT) by 84.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,366 shares of the retailer’s stock after selling 12,466 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Target were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Tower View Wealth Management LLC lifted its position in Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after buying an additional 106 shares during the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of Target in the 2nd quarter worth about $31,000. Penserra Capital Management LLC purchased a new position in shares of Target during the 4th quarter worth about $35,000. Impact Partnership Wealth LLC boosted its stake in shares of Target by 106.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock worth $45,000 after purchasing an additional 209 shares during the period. Finally, Friedenthal Financial bought a new position in Target during the 4th quarter valued at about $45,000. 79.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Truist Financial boosted their target price on Target from $142.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Gordon Haskett increased their target price on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Wells Fargo & Company raised their price target on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Morgan Stanley boosted their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada raised their target price on shares of Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Target currently has a consensus rating of “Moderate Buy” and an average target price of $182.04.

Insider Transactions at Target

In related news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 over the last three months. 0.23% of the stock is currently owned by insiders.

Target Stock Down 0.7 %

TGT stock opened at $165.01 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The stock has a market capitalization of $76.18 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. The firm has a 50 day moving average of $162.13 and a 200 day moving average of $139.80.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping the consensus estimate of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The business had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio is presently 49.27%.

About Target

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.