Target Co. (NYSE:TGT) Shares Sold by BKM Wealth Management LLC

BKM Wealth Management LLC cut its stake in shares of Target Co. (NYSE:TGT) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,356 shares of the retailer’s stock after selling 967 shares during the quarter. BKM Wealth Management LLC’s holdings in Target were worth $1,147,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Little House Capital LLC purchased a new stake in Target in the first quarter valued at $1,041,000. Nordea Investment Management AB boosted its holdings in Target by 23.6% during the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after buying an additional 122,706 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after acquiring an additional 6,690 shares during the period. Janney Capital Management LLC purchased a new stake in shares of Target during the 1st quarter worth about $13,958,000. Finally, Wellington Management Group LLP boosted its stake in shares of Target by 864.4% during the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after acquiring an additional 51,639 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TGT has been the subject of a number of research analyst reports. Telsey Advisory Group restated an “outperform” rating and set a $195.00 price objective on shares of Target in a research report on Thursday, September 19th. Stifel Nicolaus lifted their price objective on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Sanford C. Bernstein assumed coverage on Target in a report on Tuesday. They set a “market perform” rating and a $168.00 target price for the company. Royal Bank of Canada lifted their target price on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Melius Research initiated coverage on shares of Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target for the company. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of Target stock opened at $151.16 on Friday. The stock has a market capitalization of $69.93 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.99 and a beta of 1.24. The firm’s fifty day simple moving average is $153.24 and its 200-day simple moving average is $152.22. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.80 earnings per share. As a group, equities analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.96%. Target’s payout ratio is currently 50.28%.

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.