TrueWealth Advisors LLC Sells 200 Shares of Target Co. (NYSE:TGT)

TrueWealth Advisors LLC trimmed its stake in Target Co. (NYSE:TGT) by 11.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,569 shares of the retailer’s stock after selling 200 shares during the period. TrueWealth Advisors LLC’s holdings in Target were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in shares of Target by 4.3% in the third quarter. Van ECK Associates Corp now owns 135,908 shares of the retailer’s stock valued at $20,121,000 after purchasing an additional 5,548 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Target during the 3rd quarter valued at approximately $49,000. Janney Capital Management LLC grew its holdings in Target by 16.3% in the 3rd quarter. Janney Capital Management LLC now owns 86,951 shares of the retailer’s stock valued at $13,552,000 after buying an additional 12,164 shares during the last quarter. Northern Financial Advisors Inc increased its position in Target by 141.8% in the 3rd quarter. Northern Financial Advisors Inc now owns 7,616 shares of the retailer’s stock worth $1,187,000 after buying an additional 4,466 shares during the period. Finally, Conning Inc. lifted its holdings in shares of Target by 5.4% during the third quarter. Conning Inc. now owns 247,675 shares of the retailer’s stock worth $38,603,000 after buying an additional 12,627 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

Shares of Target stock opened at $150.84 on Monday. The firm has a 50 day simple moving average of $153.04 and a 200 day simple moving average of $151.23. Target Co. has a fifty-two week low of $105.23 and a fifty-two week 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 firm has a market cap of $69.49 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.94 and a beta of 1.24.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.80 earnings per share. Sell-side analysts predict that Target Co. will post 9.54 earnings per share for the current fiscal year.

Target Dividend Announcement

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

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last ninety days. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. StockNews.com downgraded Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Roth Mkm upped their price target on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and set a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $195.00 target price on shares of Target in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.