Target Co. (NYSE:TGT) Shares Sold by Burney Co.

Burney Co. trimmed its position in shares of Target Co. (NYSE:TGT) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,936 shares of the retailer’s stock after selling 643 shares during the period. Burney Co.’s holdings in Target were worth $1,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its position in shares of Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the period. Williams Jones Wealth Management LLC. raised its stake in Target by 0.6% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after acquiring an additional 68 shares in the last quarter. Beacon Capital Management LLC boosted its position in Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the period. Godshalk Welsh Capital Management Inc. grew its stake in shares of Target by 0.9% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after purchasing an additional 70 shares in the last quarter. Finally, Haverford Trust Co increased its holdings in shares of Target by 0.3% during the first quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock valued at $4,868,000 after purchasing an additional 70 shares during the period. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Target from $158.00 to $160.00 and gave the company an “inline” rating in a research report on Thursday, August 22nd. BNP Paribas started coverage on shares of Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective for the company. Robert W. Baird reissued an “outperform” rating and set a $190.00 target price on shares of Target in a report on Thursday, May 23rd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Monday. Finally, Truist Financial boosted their price objective on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.68.

Insider Buying and Selling

In other Target 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Target Price Performance

Shares of Target stock opened at $153.82 on Friday. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The firm has a market cap of $71.16 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The firm’s 50-day simple moving average is $146.83 and its 200-day simple moving average is $154.87.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.80 EPS. As a group, research analysts expect that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 2.91%. Target’s dividend payout ratio (DPR) is presently 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.