Target Co. (NYSE:TGT) Shares Sold by Ceredex Value Advisors LLC

02 Nov 2024, 10:38 by Scott Moore · The Cerbat Gem

Ceredex Value Advisors LLC cut its stake in shares of Target Co. (NYSE:TGT – Free Report) by 12.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,000 shares of the retailer’s stock after selling 40,000 shares during the period. Ceredex Value Advisors LLC owned approximately 0.06% of Target worth $45,511,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TGT. Triad Wealth Partners LLC bought a new stake in Target in the second quarter worth $25,000. Slocum Gordon & Co LLP acquired a new stake in shares of Target in the second quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new stake in Target in the 2nd quarter valued at approximately $31,000. Washington Trust Advisors Inc. increased its position in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the period. Finally, Wolff Wiese Magana LLC boosted its position in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the 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 completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the firm’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 value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock worth $8,290,995 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Target Stock Up 0.5 %

Target stock opened at $150.84 on Friday. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. 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 50 day moving average of $153.04 and a 200-day moving average of $151.40. The stock has a market capitalization of $69.49 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24.

Target (NYSE:TGT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion for 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%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.80 earnings per share. On average, equities research analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

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 dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.97%. Target’s dividend payout ratio (DPR) is presently 46.28%.

Analyst Ratings Changes

Several analysts have recently weighed in on TGT shares. Sanford C. Bernstein assumed coverage on Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. 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. Bank of America increased their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Stifel Nicolaus upped their target price on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, Melius Research began coverage on shares of Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

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