Target Corporation (NYSE:TGT) Stock Holdings Trimmed by Nemes Rush Group LLC

by · The Cerbat Gem

Nemes Rush Group LLC lowered its holdings in shares of Target Corporation (NYSE:TGT – Free Report) by 28.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,048 shares of the retailer’s stock after selling 1,238 shares during the period. Nemes Rush Group LLC’s holdings in Target were worth $318,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. bought a new stake in shares of Target in the 4th quarter worth $30,000. Legacy Investment Solutions LLC raised its stake in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after buying an additional 85 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Target in the 4th quarter worth $40,000. Bellwether Advisors LLC bought a new stake in shares of Target in the 4th quarter worth $47,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Target in the 4th quarter worth $49,000. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TGT. Wedbush reissued an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Royal Bank Of Canada dropped their price objective on Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Truist Financial boosted their price objective on Target from $82.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, May 22nd. Telsey Advisory Group set a $110.00 target price on Target and gave the stock a “market perform” rating in a report on Thursday, May 22nd. Finally, Wall Street Zen cut Target from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $115.65.

Get Our Latest Report on Target

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

Target Stock Performance

Shares of NYSE TGT opened at $106.03 on Monday. The business’s 50-day moving average price is $99.22 and its two-hundred day moving average price is $108.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. Target Corporation has a one year low of $87.35 and a one year high of $167.40. The company has a market capitalization of $48.18 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.22.

Target (NYSE:TGT – Get Free Report) last issued its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. During the same quarter last year, the firm earned $2.03 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.23%. Target’s dividend payout ratio (DPR) is presently 49.23%.

About Target

(Free Report)

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.

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