Target Co. (NYSE:TGT) Shares Sold by Wealth Alliance

Wealth Alliance decreased its stake in Target Co. (NYSE:TGT) by 4.6% in the 2nd quarter, Holdings Channel reports. The firm owned 6,214 shares of the retailer’s stock after selling 302 shares during the quarter. Wealth Alliance’s holdings in Target were worth $920,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TGT. Triad Wealth Partners LLC purchased a new position in Target during the 2nd quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in Target during the 4th quarter valued at about $28,000. Slocum Gordon & Co LLP purchased a new position in Target during the 2nd quarter valued at about $28,000. Scarborough Advisors LLC purchased a new position in Target during the 4th quarter valued at about $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in Target during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target 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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was 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 in the company, valued at $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Target Trading Up 1.1 %

Shares of TGT stock opened at $153.57 on Thursday. The stock has a market cap of $71.05 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.90 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 $102.93 and a fifty-two week high of $181.86. The firm’s 50 day moving average price is $148.34 and its two-hundred day moving average price is $155.03.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TGT shares. BMO Capital Markets dropped their target price on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a report on Thursday, May 23rd. Piper Sandler started 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. Robert W. Baird reiterated an “outperform” rating and set a $190.00 price target on shares of Target in a report on Thursday, May 23rd. Bank of America lifted their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Citigroup lifted their price target on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.68.

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.