Foster & Motley Inc. Reduces Stake in Target Co. (NYSE:TGT)

Foster & Motley Inc. reduced its position in Target Co. (NYSE:TGT) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,352 shares of the retailer’s stock after selling 370 shares during the period. Foster & Motley Inc.’s holdings in Target were worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. RWA Wealth Partners LLC increased its holdings in shares of Target by 350.5% in the fourth quarter. RWA Wealth Partners LLC now owns 184,343 shares of the retailer’s stock worth $26,254,000 after purchasing an additional 143,426 shares during the last quarter. Sage Mountain Advisors LLC bought a new stake in shares of Target in the fourth quarter worth about $206,000. Capital Investment Advisory Services LLC increased its holdings in shares of Target by 10.5% in the fourth quarter. Capital Investment Advisory Services LLC now owns 9,747 shares of the retailer’s stock worth $1,388,000 after purchasing an additional 924 shares during the last quarter. Brendel Financial Advisors LLC bought a new stake in shares of Target in the fourth quarter worth about $210,000. Finally, Cetera Trust Company N.A bought a new stake in shares of Target in the fourth quarter worth about $364,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of several research reports. The Goldman Sachs Group lifted their target price on Target from $176.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. HSBC raised Target from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $195.00 in a research note on Wednesday, March 6th. Truist Financial boosted their price objective on Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Bank of America increased their price target on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus increased their price target on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.85.

Insider Activity

In other news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now directly owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christina Hennington sold 4,600 shares of Target stock in a transaction dated Thursday, March 21st. The stock was 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 in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock worth $8,819,598 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $167.11 on Tuesday. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. 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 capitalization of $77.15 billion, a P/E ratio of 18.71, a PEG ratio of 1.58 and a beta of 1.14. The stock has a 50-day simple moving average of $164.04 and a two-hundred day simple moving average of $141.86.

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

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

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.