LRI Investments LLC Decreases Stock Holdings in Target Co. (NYSE:TGT)

LRI Investments LLC lowered its stake in Target Co. (NYSE:TGT) by 68.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 434 shares of the retailer’s stock after selling 950 shares during the quarter. LRI Investments LLC’s holdings in Target were worth $67,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. M&G Plc bought a new stake in shares of Target during the 2nd quarter valued at about $3,650,000. ORG Partners LLC increased its holdings in Target by 13,104.2% during the second quarter. ORG Partners LLC now owns 6,338 shares of the retailer’s stock valued at $925,000 after buying an additional 6,290 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Target by 5.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 124,240 shares of the retailer’s stock worth $18,392,000 after acquiring an additional 6,332 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of Target by 5.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 4,395 shares of the retailer’s stock worth $651,000 after acquiring an additional 209 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft grew its position in shares of Target by 52.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 6,511 shares of the retailer’s stock valued at $935,000 after acquiring an additional 2,251 shares during the period. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen decreased their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 price objective on shares of Target in a research report on Wednesday, November 20th. Guggenheim decreased their target price on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Piper Sandler dropped their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, Roth Mkm decreased their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $160.57.

Target Trading Down 0.1 %

Shares of NYSE TGT opened at $135.09 on Wednesday. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market cap of $61.90 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 2.17 and a beta of 1.17. The business’s 50 day moving average price is $145.97 and its 200-day moving average price is $147.52.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 earnings per share. On average, sell-side analysts expect that Target Co. will post 8.6 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Wednesday, November 20th. Target’s dividend payout ratio is presently 47.51%.

Insider Activity

In other Target 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 transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

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.