Xcel Wealth Management LLC Sells 2,100 Shares of Target Co. (NYSE:TGT)

Xcel Wealth Management LLC lessened its stake in Target Co. (NYSE:TGT) by 12.1% during the third quarter, HoldingsChannel reports. The firm owned 15,305 shares of the retailer’s stock after selling 2,100 shares during the period. Xcel Wealth Management LLC’s holdings in Target were worth $2,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Washington Trust Advisors Inc. raised its stake in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the period. Williams Jones Wealth Management LLC. increased its holdings in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after acquiring an additional 68 shares during the last quarter. Beacon Capital Management LLC raised its stake in Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares during the period. Integral Investment Advisors Inc. lifted its holdings in Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Monday, August 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price target on shares of Target in a report on Thursday, September 19th. Piper Sandler assumed coverage on shares of Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Oppenheimer cut their price target on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Target currently has an average rating of “Moderate Buy” and an average price target of $179.47.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’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 in the company, valued at approximately $48,210,768.81. This represents 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 valued at $8,290,995 over the last 90 days. Company insiders own 0.23% of the company’s stock.

Target Stock Down 1.1 %

Shares of Target stock traded down $1.68 on Tuesday, reaching $149.23. The company’s stock had a trading volume of 1,268,494 shares, compared to its average volume of 3,946,161. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The firm’s fifty day simple moving average is $152.57 and its two-hundred day simple moving average is $152.42. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $69.04 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.99 and a beta of 1.24.

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

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.00%. Target’s dividend payout ratio (DPR) is currently 50.28%.

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.