Peterson Wealth Management Reduces Stock Holdings in Target Co. (NYSE:TGT)

Peterson Wealth Management lessened its stake in shares of Target Co. (NYSE:TGT) by 7.1% in the third quarter, HoldingsChannel reports. The firm owned 6,359 shares of the retailer’s stock after selling 483 shares during the quarter. Peterson Wealth Management’s holdings in Target were worth $991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. LRI Investments LLC purchased a new stake in Target during the 1st quarter worth about $77,000. Cetera Investment Advisers boosted its stake in Target by 163.6% in the 1st quarter. Cetera Investment Advisers now owns 168,426 shares of the retailer’s stock worth $29,847,000 after buying an additional 104,529 shares during the last quarter. Cetera Advisors LLC boosted its stake in Target by 142.4% in the 1st quarter. Cetera Advisors LLC now owns 60,879 shares of the retailer’s stock worth $10,788,000 after buying an additional 35,759 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Target by 19.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 231,620 shares of the retailer’s stock worth $40,282,000 after buying an additional 37,948 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Target by 7.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,633 shares of the retailer’s stock worth $289,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 2.8 %

NYSE:TGT opened at $130.09 on Friday. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The firm has a market capitalization of $59.93 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business has a 50 day simple moving average of $149.31 and a 200 day simple moving average of $148.78.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts predict that Target Co. will post 8.6 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 3.44%. Target’s dividend payout ratio is currently 47.51%.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on 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 owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial raised their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. reduced their price objective on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of Target in a research note on Monday. Royal Bank of Canada lifted their price objective on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Citigroup lowered Target from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $188.00 to $130.00 in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $160.30.

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.