Sigma Planning Corp Sells 2,613 Shares of Target Co. (NYSE:TGT)

Sigma Planning Corp lowered its position in shares of Target Co. (NYSE:TGT) by 27.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,855 shares of the retailer’s stock after selling 2,613 shares during the quarter. Sigma Planning Corp’s holdings in Target were worth $1,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Triad Wealth Partners LLC purchased a new stake in Target during the second quarter worth about $25,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target during the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Target in the 2nd quarter worth approximately $31,000. Wolff Wiese Magana LLC lifted its stake in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Target during the second quarter valued at $37,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated 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 directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 in the last ninety days. 0.15% of the stock is owned by company insiders.

Target Stock Performance

NYSE:TGT opened at $154.99 on Thursday. The company has a market capitalization of $71.40 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.01 and a beta of 1.24. The business has a 50 day moving average of $152.46 and a 200 day moving average of $150.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 1-year low of $108.08 and a 1-year high of $181.86.

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

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. Target’s dividend payout ratio is currently 46.28%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TGT. Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price objective on shares of Target in a research note on Wednesday. Jefferies Financial Group lifted their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Roth Mkm boosted their price target on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, Bank of America raised their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target currently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

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.