CWA Asset Management Group LLC Lowers Stake in Target Co. (NYSE:TGT)

CWA Asset Management Group LLC lessened its position in shares of Target Co. (NYSE:TGT – Get Rating) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,392 shares of the retailer’s stock after selling 236 shares during the period. CWA Asset Management Group LLC’s holdings in Target were worth $357,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc boosted its position in shares of Target by 122.1% in the third quarter. Bell Investment Advisors Inc now owns 191 shares of the retailer’s stock worth $28,000 after buying an additional 105 shares during the period. Annapolis Financial Services LLC boosted its position in shares of Target by 96.2% in the third quarter. Annapolis Financial Services LLC now owns 206 shares of the retailer’s stock worth $30,000 after buying an additional 101 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Target in the third quarter worth about $34,000. Wellington Shields & Co. LLC purchased a new stake in shares of Target in the second quarter worth about $35,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Target in the third quarter worth about $37,000. Hedge funds and other institutional investors own 78.86% of the company’s stock.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total value of $5,564,300.00. Following the sale, the insider now directly owns 191,272 shares in the company, valued at approximately $30,408,422.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Target Stock Down 2.3 %

Shares of Target stock opened at $159.36 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.22 and a debt-to-equity ratio of 1.43. The business’s 50 day simple moving average is $166.27 and its 200-day simple moving average is $160.73. The stock has a market capitalization of $73.36 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.28 and a beta of 1.05. Target Co. has a twelve month low of $137.16 and a twelve month high of $254.87.

Target (NYSE:TGT – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The retailer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.49. Target had a return on equity of 25.63% and a net margin of 2.55%. The business had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $30.73 billion. During the same period in the prior year, the firm earned $3.19 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that Target Co. will post 8.35 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, May 16th. Target’s dividend payout ratio is currently 72.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their target price on Target from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Sanford C. Bernstein began coverage on Target in a research report on Tuesday, December 6th. They issued an “outperform” rating and a $190.00 target price for the company. Credit Suisse Group increased their price target on Target from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, March 1st. Robert W. Baird increased their price target on Target from $180.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, March 1st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $155.00 price target on shares of Target in a report on Monday, February 13th. Thirteen investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus target price of $181.69.

Target Profile

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.