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

SVB Wealth LLC trimmed its position in shares of Target Co. (NYSE:TGT) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,255 shares of the retailer’s stock after selling 559 shares during the period. SVB Wealth LLC’s holdings in Target were worth $1,460,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Plancorp LLC raised its stake in shares of Target by 2.1% in the first quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock valued at $535,000 after acquiring an additional 53 shares in the last quarter. Beacon Financial Advisory LLC raised its stake in shares of Target by 1.0% in the fourth quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock valued at $1,005,000 after acquiring an additional 72 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in shares of Target by 18.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 494 shares of the retailer’s stock valued at $70,000 after acquiring an additional 78 shares in the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Target by 4.4% in the third quarter. VisionPoint Advisory Group LLC now owns 1,887 shares of the retailer’s stock valued at $209,000 after acquiring an additional 80 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its stake in shares of Target by 0.4% in the third quarter. iA Global Asset Management Inc. now owns 22,760 shares of the retailer’s stock valued at $2,517,000 after acquiring an additional 83 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company raised their price target on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. DA Davidson raised their price target on Target from $167.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. BMO Capital Markets raised their price target on Target from $145.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Truist Financial raised their price target on Target from $142.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus raised their price target on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.85.

Target Price Performance

Shares of NYSE:TGT opened at $166.58 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The company has a market cap of $76.91 billion, a P/E ratio of 18.65, a PEG ratio of 1.53 and a beta of 1.14. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company has a 50-day moving average price of $163.25 and a 200 day moving average price of $140.52.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. Research analysts predict that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.64%. Target’s payout ratio is currently 49.27%.

Insider Activity at Target

In other news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred 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 in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Christina Hennington sold 4,600 shares of Target stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 over the last 90 days. Company insiders own 0.23% of the company’s stock.

About Target

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.