Financial Advocates Investment Management Cuts Stake in Target Co. (NYSE:TGT)

Financial Advocates Investment Management lowered its stake in shares of Target Co. (NYSE:TGTGet Rating) by 19.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,158 shares of the retailer’s stock after selling 1,273 shares during the period. Financial Advocates Investment Management’s holdings in Target were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Blume Capital Management Inc. acquired a new stake in Target during the 1st quarter worth approximately $25,000. HHM Wealth Advisors LLC grew its position in shares of Target by 75.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 209 shares of the retailer’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Roble Belko & Company Inc purchased a new position in Target during the 1st quarter worth $32,000. Aurora Private Wealth Inc. acquired a new stake in shares of Target in the 2nd quarter worth $37,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Target in the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now directly owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Target from $190.00 to $155.00 and set an “equal weight” rating for the company in a research report on Thursday, November 17th. Truist Financial lowered their target price on shares of Target from $165.00 to $151.00 and set a “hold” rating for the company in a report on Thursday, November 17th. Credit Suisse Group decreased their price objective on shares of Target from $180.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, November 17th. KeyCorp reduced their target price on shares of Target from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, November 17th. Finally, Bank of America boosted their target price on shares of Target from $165.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.07.

Target Stock Performance

Shares of TGT stock opened at $163.41 on Thursday. The firm has a 50-day moving average of $158.91 and a 200-day moving average of $160.93. The company has a market cap of $75.21 billion, a P/E ratio of 22.38, a P/E/G ratio of 2.81 and a beta of 1.02. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.86 and a quick ratio of 0.14. Target Co. has a one year low of $137.16 and a one year high of $254.87.

Target (NYSE:TGTGet Rating) last posted its quarterly earnings results on Wednesday, November 16th. The retailer reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.12 by ($0.58). The company had revenue of $26.12 billion for the quarter, compared to the consensus estimate of $26.40 billion. Target had a net margin of 3.17% and a return on equity of 30.51%. Target’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.03 EPS. Equities research analysts forecast that Target Co. will post 5.71 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, November 15th. Target’s dividend payout ratio is currently 59.18%.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

See Also

Institutional Ownership by Quarter for Target (NYSE:TGT)

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