Regal Investment Advisors LLC Lowers Position in Target Co. (NYSE:TGT)

Regal Investment Advisors LLC reduced its position in shares of Target Co. (NYSE:TGT) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,921 shares of the retailer’s stock after selling 224 shares during the period. Regal Investment Advisors LLC’s holdings in Target were worth $6,502,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Target in the 2nd quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Target in the fourth quarter valued at $28,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target during the 2nd quarter worth $28,000. Scarborough Advisors LLC acquired a new position in shares of Target during the 4th quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Target in 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 news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’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 completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, 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.

Analysts Set New Price Targets

TGT has been the topic of a number of research analyst reports. Oppenheimer decreased their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 target price on shares of Target in a report on Wednesday, August 21st. TD Cowen lifted their price target on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.69.

Target Stock Performance

Target stock opened at $155.18 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company 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 stock’s 50-day moving average is $148.75 and its 200-day moving average is $154.39.

Target (NYSE:TGT) last posted its quarterly 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. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the firm posted $1.80 earnings per share. Target’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.89%. Target’s dividend payout ratio is currently 50.28%.

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.