Redwood Wealth Management Group LLC Trims Stock Holdings in Target Co. (NYSE:TGT)

Redwood Wealth Management Group LLC reduced its stake in shares of Target Co. (NYSE:TGT) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,080 shares of the retailer’s stock after selling 157 shares during the period. Redwood Wealth Management Group LLC’s holdings in Target were worth $160,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new position in shares of Target in the second quarter worth approximately $25,000. Washington Trust Advisors Inc. lifted its stake in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Slocum Gordon & Co LLP bought a new position in Target in the 2nd quarter worth $28,000. Retirement Group LLC increased its stake in Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after buying an additional 91 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Target during the fourth quarter valued at about $28,000. 79.73% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, 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 accessible through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of NYSE:TGT opened at $151.36 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm has a market cap of $70.02 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The firm’s 50 day simple moving average is $148.02 and its 200-day simple moving average is $155.07. Target Co. has a one year low of $102.93 and a one year high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $1.80 EPS. As a group, equities analysts predict that Target Co. will post 9.53 EPS for the current year.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Daiwa America upgraded Target to a “strong-buy” rating in a research note on Monday, August 26th. Evercore ISI lifted their price objective on shares of Target from $158.00 to $160.00 and gave the company an “inline” rating in a research report on Thursday, August 22nd. BNP Paribas began coverage on shares of Target in a research report on Monday, June 3rd. They set an “underperform” rating and a $116.00 target price for the company. Finally, Bank of America lifted their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.