Stratos Wealth Advisors LLC Decreases Stock Position in Target Co. (NYSE:TGT)

Stratos Wealth Advisors LLC lowered its stake in Target Co. (NYSE:TGT) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,917 shares of the retailer’s stock after selling 115 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Target were worth $1,078,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TGT. Wellington Management Group LLP lifted its stake in Target by 864.4% in the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after purchasing an additional 51,639 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Target during the 1st quarter valued at about $38,000. Harbor Investment Advisory LLC raised its position in shares of Target by 81.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,886 shares of the retailer’s stock valued at $334,000 after buying an additional 847 shares in the last quarter. Austin Private Wealth LLC raised its position in shares of Target by 12.3% during the 1st quarter. Austin Private Wealth LLC now owns 1,756 shares of the retailer’s stock valued at $308,000 after buying an additional 193 shares in the last quarter. Finally, Annex Advisory Services LLC purchased a new stake in shares of Target during the 1st quarter valued at about $200,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of several recent research reports. Bank of America upped their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Royal Bank of Canada upped their target price on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler initiated coverage on shares of Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price on the stock. Citigroup upped their target price on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price objective on shares of Target in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Insider Activity at Target

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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was 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 of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 over the last 90 days. Insiders own 0.23% of the company’s stock.

Target Price Performance

NYSE TGT opened at $156.84 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm’s 50 day moving average price is $152.25 and its 200-day moving average price is $152.57. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The company has a market cap of $72.56 billion, a PE ratio of 17.60, a P/E/G ratio of 1.99 and a beta of 1.24.

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

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given 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 yield of 2.86%. Target’s payout ratio is 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.