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

Avalon Global Asset Management LLC lowered its holdings in Target Co. (NYSE:TGT) by 2.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,500 shares of the retailer’s stock after selling 2,500 shares during the quarter. Target accounts for 2.6% of Avalon Global Asset Management LLC’s holdings, making the stock its 13th largest holding. Avalon Global Asset Management LLC’s holdings in Target were worth $17,534,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Target by 7.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,633 shares of the retailer’s stock worth $289,000 after acquiring an additional 118 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Target by 90.9% during the second quarter. Versant Capital Management Inc now owns 336 shares of the retailer’s stock worth $50,000 after buying an additional 160 shares during the period. Quent Capital LLC grew its stake in shares of Target by 10.1% in the second quarter. Quent Capital LLC now owns 3,312 shares of the retailer’s stock valued at $490,000 after buying an additional 304 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of Target in the 2nd quarter valued at $63,000. Finally, Northwest Capital Management Inc lifted its stake in Target by 48.7% during the 2nd quarter. Northwest Capital Management Inc now owns 763 shares of the retailer’s stock worth $113,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by company insiders.

Target Price Performance

TGT stock opened at $132.31 on Monday. The business has a 50 day simple moving average of $148.86 and a 200-day simple moving average of $148.45. The company has a market capitalization of $60.95 billion, a P/E ratio of 14.03, a PEG ratio of 2.17 and a beta of 1.24. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the previous year, the business posted $2.10 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on TGT shares. JPMorgan Chase & Co. dropped their target price on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday, November 20th. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. UBS Group boosted their price target on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI cut their price objective on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average target price of $160.30.

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.