Nemes Rush Group LLC Trims Holdings in Target Co. (NYSE:TGT)

Nemes Rush Group LLC lowered its holdings in Target Co. (NYSE:TGT) by 18.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,492 shares of the retailer’s stock after selling 1,031 shares during the period. Nemes Rush Group LLC’s holdings in Target were worth $665,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in Target in the second quarter worth $25,000. Ables Iannone Moore & Associates Inc. bought a new position in Target in the 4th quarter worth $28,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target in the 2nd quarter worth about $28,000. Scarborough Advisors LLC purchased a new stake in shares of Target in the 4th quarter worth about $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Target during the 2nd quarter valued at about $31,000. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of NYSE:TGT opened at $155.18 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm has a market cap of $71.79 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The business has a 50-day simple moving average of $148.75 and a two-hundred day simple moving average of $154.47. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect that Target Co. will post 9.53 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 $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.89%. Target’s dividend payout ratio (DPR) is currently 50.28%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Evercore ISI increased their target price on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Roth Mkm lifted their price target on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Jefferies Financial Group increased their price objective on Target from $190.00 to $195.00 and gave the stock a “buy” 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 set a “buy” rating and a $180.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.69.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now 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 can be accessed through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the business’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 directly owns 303,843 shares in the company, valued at $48,210,768.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

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.