Keudell Morrison Wealth Management Sells 703 Shares of Target Co. (NYSE:TGT)

Keudell Morrison Wealth Management cut its stake in shares of Target Co. (NYSE:TGT) by 31.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,539 shares of the retailer’s stock after selling 703 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Target were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in Target by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after acquiring an additional 440,307 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after acquiring an additional 470,647 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Target by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after acquiring an additional 435,229 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in Target by 9.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock worth $458,131,000 after acquiring an additional 272,521 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated 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 transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TGT. Morgan Stanley restated an “overweight” rating and issued a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. Evercore ISI dropped their price target on shares of Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Truist Financial boosted their price target on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price target on shares of Target in a research report on Thursday, September 19th. Finally, Melius Research began coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Target Stock Performance

TGT opened at $150.91 on Friday. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The company has a market cap of $69.52 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.93 and a beta of 1.24. The company’s fifty day moving average price is $152.52 and its two-hundred day moving average price is $150.96.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter in the prior year, the business posted $1.80 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. On average, analysts expect that Target Co. will post 9.54 EPS for the current fiscal 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 given a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.97%. Target’s payout ratio is currently 46.28%.

Target 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.