Gateway Wealth Partners LLC Sells 169 Shares of Target Co. (NYSE:TGT)

Gateway Wealth Partners LLC decreased its holdings in shares of Target Co. (NYSE:TGT) by 10.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,528 shares of the retailer’s stock after selling 169 shares during the period. Gateway Wealth Partners LLC’s holdings in Target were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Boston Partners bought a new position in shares of Target in the first quarter valued at approximately $335,870,000. AQR Capital Management LLC raised its stake in shares of Target by 711.2% in the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after acquiring an additional 768,479 shares during the last quarter. Swedbank AB bought a new position in shares of Target in the first quarter valued at approximately $107,367,000. Los Angeles Capital Management LLC raised its stake in shares of Target by 44.6% in the first quarter. Los Angeles Capital Management LLC now owns 1,765,496 shares of the retailer’s stock valued at $312,864,000 after acquiring an additional 544,920 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after acquiring an additional 470,647 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In other news, 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 transaction of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The transaction was disclosed in a document filed with the SEC, 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 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 owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock worth $8,290,995 in the last three months. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Monday, August 26th. Melius Research began coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, TD Cowen boosted their price objective on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.69.

Target Price Performance

TGT stock opened at $155.86 on Tuesday. The stock has a 50-day moving average price of $148.85 and a two-hundred day moving average price of $154.33. The stock has a market cap of $72.11 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 EPS. Equities analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.87%. Target’s dividend payout ratio is 50.28%.

Target 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.