Target Co. (NYSE:TGT) Holdings Lowered by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. cut its stake in Target Co. (NYSE:TGT) by 4.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 31,372 shares of the retailer’s stock after selling 1,546 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Target were worth $4,644,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC bought a new position in Target during the 2nd quarter valued at $25,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Target in the 4th quarter worth $28,000. Slocum Gordon & Co LLP acquired a new stake in shares of Target in the second quarter valued at $28,000. Scarborough Advisors LLC bought a new position in Target during the fourth quarter valued at about $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in Target during the second quarter worth about $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s 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 approximately $48,210,768.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on 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 owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Target Trading Up 1.0 %

NYSE:TGT opened at $152.92 on Tuesday. The company has a market capitalization of $70.75 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.90 and a beta of 1.24. The stock’s 50 day moving average price is $148.10 and its 200 day moving average price is $155.07. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same quarter in the prior year, the business posted $1.80 EPS. Target’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Truist Financial increased their target price on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. StockNews.com upgraded shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. TD Cowen upped their price target on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Roth Mkm lifted their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.68.

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.