Zhang Financial LLC Has $359,000 Holdings in Target Co. (NYSE:TGT)

Zhang Financial LLC lessened its stake in shares of Target Co. (NYSE:TGTGet Rating) by 23.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,543 shares of the retailer’s stock after selling 763 shares during the period. Zhang Financial LLC’s holdings in Target were worth $359,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blume Capital Management Inc. acquired a new stake in Target during the 1st quarter worth about $25,000. Delos Wealth Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at about $29,000. Roble Belko & Company Inc acquired a new position in shares of Target in the 1st quarter valued at about $32,000. Cornerstone Advisory LLC acquired a new position in shares of Target in the 4th quarter valued at about $36,000. Finally, Mascoma Wealth Management LLC increased its holdings in shares of Target by 47.2% in the 1st quarter. Mascoma Wealth Management LLC now owns 181 shares of the retailer’s stock valued at $38,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 77.42% of the company’s stock.

Target Stock Performance

Target stock opened at $152.96 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14. The stock has a fifty day moving average price of $163.84 and a two-hundred day moving average price of $182.03. Target Co. has a 52-week low of $137.16 and a 52-week high of $268.98. The firm has a market capitalization of $70.40 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.99 and a beta of 1.02.

Target (NYSE:TGTGet Rating) last announced its earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). Target had a net margin of 3.92% and a return on equity of 35.15%. The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $26.07 billion. During the same quarter last year, the business posted $3.64 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that Target Co. will post 8.11 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.82%. Target’s dividend payout ratio is 49.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Telsey Advisory Group dropped their target price on Target from $200.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, June 8th. Piper Sandler assumed coverage on Target in a report on Friday, July 22nd. They issued a “neutral” rating and a $190.00 target price on the stock. Cowen upped their target price on Target to $210.00 in a report on Monday, August 22nd. Stifel Nicolaus boosted their price target on Target from $185.00 to $195.00 and gave the company a “hold” rating in a research note on Thursday, August 18th. Finally, MKM Partners lowered their price target on Target from $163.00 to $161.00 and set a “neutral” rating for the company in a research note 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. Based on data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average target price of $193.67.

Insider Activity at Target

In related news, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the transaction, the insider now directly owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Matthew A. Liegel sold 1,226 shares of Target stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the sale, the chief accounting officer now directly owns 2,812 shares in the company, valued at $488,725.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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