Steel Grove Capital Advisors LLC Sells 1,448 Shares of Target Co. (NYSE:TGT)

Steel Grove Capital Advisors LLC trimmed its position in shares of Target Co. (NYSE:TGT) by 42.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,982 shares of the retailer’s stock after selling 1,448 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Target were worth $282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower View Wealth Management LLC grew 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 acquiring an additional 106 shares during the period. Sittner & Nelson LLC lifted its holdings in shares of Target by 150.6% during the 2nd quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock valued at $28,000 after purchasing an additional 128 shares in the last quarter. First Capital Advisors Group LLC. acquired a new position in shares of Target in the 2nd quarter valued at approximately $31,000. Penserra Capital Management LLC bought a new stake in Target during the 4th quarter worth approximately $35,000. Finally, Kenfarb & CO. raised its holdings in Target by 81.3% during the 2nd quarter. Kenfarb & CO. now owns 290 shares of the retailer’s stock worth $38,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

TGT has been the topic of a number of research analyst reports. Truist Financial raised their price objective on shares of Target from $142.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Guggenheim boosted their price target on Target from $160.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. UBS Group reiterated a “buy” rating and set a $174.00 price objective on shares of Target in a report on Tuesday, March 5th. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Finally, Roth Mkm raised their price target on shares of Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.73.

Target Stock Performance

TGT stock traded up $2.18 during mid-day trading on Thursday, hitting $176.85. 1,969,231 shares of the company were exchanged, compared to its average volume of 3,916,228. Target Co. has a 1-year low of $102.93 and a 1-year high of $177.22. The business has a 50 day simple moving average of $153.23 and a 200-day simple moving average of $134.36. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $81.65 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The business had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. During the same period in the previous year, the company posted $1.89 EPS. The firm’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 Dividend Announcement

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 issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.49%. Target’s dividend payout ratio is presently 49.27%.

Insider Activity

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

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.