Beverly Hills Private Wealth LLC Decreases Holdings in Target Co. (NYSE:TGT)

Beverly Hills Private Wealth LLC lowered its holdings in Target Co. (NYSE:TGT) by 84.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,366 shares of the retailer’s stock after selling 12,466 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Target were worth $337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower View Wealth Management LLC increased its stake in Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in shares of Target in the 2nd quarter valued at $31,000. Penserra Capital Management LLC purchased a new position in shares of Target in the 4th quarter valued at $35,000. Friedenthal Financial acquired a new stake in Target during the 4th quarter worth $45,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Target in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $165.01 on Tuesday. The company has a market capitalization of $76.18 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.56 and a beta of 1.14. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The company’s 50 day simple moving average is $162.13 and its 200 day simple moving average is $139.80.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping 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 company had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. During the same quarter in the prior year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is 49.27%.

Insider Buying and Selling at Target

In other news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock worth $8,819,598 in the last 90 days. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TGT. DA Davidson boosted their price objective on Target from $167.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Royal Bank of Canada upped their target price on shares of Target from $157.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Barclays raised their price target on Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. The Goldman Sachs Group upped their price objective on Target from $176.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley lifted their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and an average price target of $182.04.

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.