FLC Capital Advisors Sells 220 Shares of Target Co. (NYSE:TGT)

FLC Capital Advisors reduced its holdings in Target Co. (NYSE:TGT) by 13.8% in the third quarter, HoldingsChannel reports. The firm owned 1,380 shares of the retailer’s stock after selling 220 shares during the period. FLC Capital Advisors’ holdings in Target were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TGT. Triad Wealth Partners LLC acquired a new stake in Target in the second quarter valued at approximately $25,000. Slocum Gordon & Co LLP bought a new stake in shares of Target during the 2nd quarter valued at $28,000. Scarborough Advisors LLC bought a new stake in shares of Target during the 4th quarter valued at $29,000. Hobbs Group Advisors LLC bought a new stake in shares of Target during the 2nd quarter valued at $31,000. Finally, Washington Trust Advisors Inc. grew its position in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Transactions at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of the 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 transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’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 transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock valued at $8,290,995. Corporate insiders own 0.23% of the company’s stock.

Target Trading Down 1.1 %

TGT opened at $158.88 on Thursday. The business has a 50 day simple moving average of $151.39 and a two-hundred day simple moving average of $153.02. The firm has a market capitalization of $73.50 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.99 and a beta of 1.24. 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 one year low of $105.23 and a one year high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter in the prior year, the company earned $1.80 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Analysts predict that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Analysts Set New Price Targets

TGT has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Bank of America boosted their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Thursday, September 19th. Finally, Jefferies Financial Group upped their price objective on 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, eight have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Target has an average rating of “Moderate Buy” and a consensus price target of $179.69.

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.