Donoghue Forlines LLC Decreases Stake in Target Co. (NYSE:TGT)

Donoghue Forlines LLC lessened its stake in shares of Target Co. (NYSE:TGT – Get Rating) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,358 shares of the retailer’s stock after selling 280 shares during the period. Donoghue Forlines LLC’s holdings in Target were worth $1,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of TGT. Moors & Cabot Inc. raised its holdings in shares of Target by 111.0% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the retailer’s stock worth $25,000 after acquiring an additional 13,149 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in shares of Target during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Target during the 4th quarter worth $28,000. Founders Capital Management purchased a new position in shares of Target during the 4th quarter worth $29,000. Finally, Sterling Investment Advisors Ltd. raised its holdings in shares of Target by 12,500.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer’s stock worth $29,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 81.83% of the company’s stock.

A number of analysts recently issued reports on TGT shares. Truist Financial cut their price objective on Target from $270.00 to $261.00 and set a “buy” rating for the company in a research report on Wednesday, March 2nd. Evercore ISI started coverage on Target in a research report on Friday, February 25th. They set a “hold” rating and a $235.00 price objective for the company. BMO Capital Markets raised their price objective on Target from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 2nd. Gordon Haskett raised Target from a “hold” rating to a “buy” rating and raised their price objective for the stock from $255.00 to $300.00 in a research report on Friday, April 8th. Finally, StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 12th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $277.23.

TGT stock traded down $4.61 during trading on Tuesday, hitting $214.64. 447,748 shares of the company’s stock were exchanged, compared to its average volume of 3,434,907. The business has a 50-day moving average price of $225.57 and a two-hundred day moving average price of $227.97. The stock has a market capitalization of $99.52 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.91 and a beta of 0.94. Target Co. has a 52-week low of $184.00 and a 52-week high of $268.98. The company has a current ratio of 0.99, a quick ratio of 0.35 and a debt-to-equity ratio of 1.06.

Target (NYSE:TGT – Get Rating) last posted its earnings results on Tuesday, March 1st. The retailer reported $3.19 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.33. The firm had revenue of $31 billion during the quarter, compared to analysts’ expectations of $31.40 billion. Target had a return on equity of 47.35% and a net margin of 6.55%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.67 earnings per share. On average, equities research analysts anticipate that Target Co. will post 14.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Wednesday, May 18th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, May 17th. Target’s dividend payout ratio is currently 25.59%.

In other Target news, insider Cara A. Sylvester sold 2,030 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total value of $507,500.00. Following the completion of the sale, the insider now owns 7,891 shares in the company, valued at $1,972,750. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $216.35, for a total value of $6,490,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,363 shares of company stock valued at $21,970,253. 0.29% of the stock is owned by company insiders.

About Target (Get Rating)

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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