NewEdge Wealth LLC Sells 7,854 Shares of Target Co. (NYSE:TGT)

NewEdge Wealth LLC lowered its stake in shares of Target Co. (NYSE:TGT) by 62.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,688 shares of the retailer’s stock after selling 7,854 shares during the period. NewEdge Wealth LLC’s holdings in Target were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of TGT. Plancorp LLC increased its position in shares of Target by 2.1% during the first quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock worth $535,000 after acquiring an additional 53 shares in the last quarter. Beacon Financial Advisory LLC raised its position in Target by 1.0% in the 4th quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock valued at $1,005,000 after buying an additional 72 shares during the last quarter. Janiczek Wealth Management LLC lifted its stake in Target by 18.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 494 shares of the retailer’s stock valued at $70,000 after acquiring an additional 78 shares in the last quarter. VisionPoint Advisory Group LLC boosted its position in Target by 4.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,887 shares of the retailer’s stock worth $209,000 after acquiring an additional 80 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its stake in shares of Target by 0.4% during the 3rd quarter. iA Global Asset Management Inc. now owns 22,760 shares of the retailer’s stock worth $2,517,000 after acquiring an additional 83 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent research reports. TheStreet upgraded shares of Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Tigress Financial increased their price objective on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Stifel Nicolaus lifted their target price on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. BMO Capital Markets upped their target price on Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Finally, Citigroup raised their price target on Target from $142.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Down 1.0 %

Shares of TGT opened at $163.31 on Wednesday. The firm’s 50-day simple moving average is $162.51 and its 200 day simple moving average is $140.17. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The firm has a market cap of $75.40 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating the consensus estimate of $2.41 by $0.57. The company had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, analysts forecast that Target Co. will post 9.39 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 49.27%.

Insider Transactions at Target

In related news, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Target news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. 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.