Avalon Global Asset Management LLC Cuts Holdings in Target Co. (NYSE:TGT)

Avalon Global Asset Management LLC reduced its holdings in Target Co. (NYSE:TGT) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,500 shares of the retailer’s stock after selling 2,500 shares during the quarter. Target comprises 2.6% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Avalon Global Asset Management LLC’s holdings in Target were worth $17,534,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Triad Wealth Partners LLC acquired a new position in shares of Target during the 2nd quarter worth $25,000. Slocum Gordon & Co LLP purchased a new stake in Target during the second quarter worth about $28,000. Hobbs Group Advisors LLC purchased a new stake in Target during the second quarter worth about $31,000. Wolff Wiese Magana LLC grew its position in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in Target in the third quarter valued at about $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 1.7 %

Shares of TGT opened at $132.31 on Monday. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The company’s fifty day moving average is $148.86 and its two-hundred day moving average is $148.45. The firm has a market cap of $60.95 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 EPS. Analysts forecast that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research reports. Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets lowered their target price on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 price target on shares of Target in a research note on Wednesday, November 20th. Royal Bank of Canada increased their price objective on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Truist Financial lifted their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $160.30.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

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.