WFA Asset Management Corp Sells 840 Shares of Target Co. (NYSE:TGT)

WFA Asset Management Corp trimmed its stake in Target Co. (NYSE:TGT) by 32.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,747 shares of the retailer’s stock after selling 840 shares during the period. WFA Asset Management Corp’s holdings in Target were worth $272,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norden Group LLC grew its position in Target by 17.2% during the first quarter. Norden Group LLC now owns 2,229 shares of the retailer’s stock valued at $395,000 after acquiring an additional 327 shares during the last quarter. Salomon & Ludwin LLC grew its position in Target by 39.0% during the first quarter. Salomon & Ludwin LLC now owns 666 shares of the retailer’s stock valued at $118,000 after acquiring an additional 187 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Target during the first quarter valued at approximately $1,169,000. Easterly Investment Partners LLC grew its position in Target by 57.9% during the first quarter. Easterly Investment Partners LLC now owns 65,685 shares of the retailer’s stock valued at $11,640,000 after acquiring an additional 24,099 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its position in Target by 3.5% during the first quarter. Rehmann Capital Advisory Group now owns 2,143 shares of the retailer’s stock valued at $380,000 after acquiring an additional 73 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.15% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $151.00 on Monday. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The business has a fifty day moving average price of $153.04 and a 200-day moving average price of $151.23. The company has a market capitalization of $69.56 billion, a PE ratio of 15.58, a PEG ratio of 1.94 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period last year, the company earned $1.80 EPS. Target’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts expect that Target Co. will post 9.54 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.97%. Target’s payout ratio is 46.28%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TGT shares. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. Stifel Nicolaus increased their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. TD Cowen increased their price objective on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Jefferies Financial Group increased their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler began coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $179.47.

Target Company 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.