NewEdge Advisors LLC Sells 2,697 Shares of Target Co. (NYSE:TGT)

NewEdge Advisors LLC lessened its holdings in shares of Target Co. (NYSE:TGT) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,919 shares of the retailer’s stock after selling 2,697 shares during the quarter. NewEdge Advisors LLC’s holdings in Target were worth $5,614,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Silver Lake Advisory LLC bought a new stake in shares of Target during the 2nd quarter valued at about $249,000. Copperwynd Financial LLC boosted its position in shares of Target by 9.0% during the 2nd quarter. Copperwynd Financial LLC now owns 4,837 shares of the retailer’s stock valued at $727,000 after acquiring an additional 398 shares during the last quarter. Creative Planning boosted its position in shares of Target by 4.2% during the 2nd quarter. Creative Planning now owns 198,240 shares of the retailer’s stock valued at $29,347,000 after acquiring an additional 7,978 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its position in shares of Target by 8.1% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 2,588 shares of the retailer’s stock valued at $383,000 after acquiring an additional 193 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its position in shares of Target by 39.5% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 339 shares of the retailer’s stock valued at $50,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $152.20 on Wednesday. The stock has a market cap of $70.41 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 2.00 and a beta of 1.24. The business’s fifty day moving average is $148.89 and its 200 day moving average is $154.24. Target Co. has a twelve month low of $102.93 and a twelve month 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.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for 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 firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 earnings per share. Research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 50.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. UBS Group boosted their target price on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Bank of America boosted their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Thursday, September 19th. Finally, Oppenheimer dropped their target price on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.69.

Insiders Place Their Bets

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly 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 that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is currently owned by corporate insiders.

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.