3Chopt Investment Partners LLC Sells 185 Shares of Target Co. (NYSE:TGT)

3Chopt Investment Partners LLC trimmed its stake in shares of Target Co. (NYSE:TGT) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,197 shares of the retailer’s stock after selling 185 shares during the period. 3Chopt Investment Partners LLC’s holdings in Target were worth $1,510,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BNP Paribas initiated coverage on shares of Target in a research note on Monday, June 3rd. They set an “underperform” rating and a $116.00 price target on the stock. UBS Group boosted their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Roth Mkm boosted their target price on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $155.86 on Tuesday. The firm has a market cap of $72.11 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.00 and a beta of 1.24. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $148.85 and its 200 day moving average is $154.33.

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

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 50.28%.

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.