Foundations Investment Advisors LLC Sells 271 Shares of Target Co. (NYSE:TGT)

Posted by on Mar 20th, 2023

Foundations Investment Advisors LLC decreased its holdings in shares of Target Co. (NYSE:TGT – Get Rating) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,737 shares of the retailer’s stock after selling 271 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Target were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MADDEN SECURITIES Corp bought a new stake in Target during the 4th quarter valued at $30,000. Glassy Mountain Advisors Inc. bought a new stake in Target during the 4th quarter valued at $32,000. Phocas Financial Corp. increased its holdings in shares of Target by 20.1% in the fourth quarter. Phocas Financial Corp. now owns 4,025 shares of the retailer’s stock worth $600,000 after purchasing an additional 675 shares during the period. RNC Capital Management LLC increased its holdings in shares of Target by 29.8% in the fourth quarter. RNC Capital Management LLC now owns 26,484 shares of the retailer’s stock worth $3,947,000 after purchasing an additional 6,082 shares during the period. Finally, Butensky & Cohen Financial Security Inc. increased its holdings in shares of Target by 15.2% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 28,965 shares of the retailer’s stock worth $4,317,000 after purchasing an additional 3,819 shares during the period. Institutional investors own 78.86% of the company’s stock.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the completion of the transaction, the insider now owns 191,272 shares of the company’s stock, valued at $30,408,422.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of several research analyst reports. Credit Suisse Group upped their price target on shares of Target from $160.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, March 1st. Raymond James upped their price target on shares of Target from $185.00 to $195.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 2nd. Sanford C. Bernstein initiated coverage on shares of Target in a report on Tuesday, December 6th. They issued an “outperform” rating and a $190.00 price target on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $155.00 price target on shares of Target in a report on Monday, February 13th. Finally, Barclays initiated coverage on Target in a research note on Tuesday, February 7th. They issued an “equal weight” rating and a $163.00 target price on the stock. Thirteen equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Target presently has an average rating of “Moderate Buy” and a consensus target price of $181.69.

Target Stock Performance

Shares of TGT opened at $159.36 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.92 and a quick ratio of 0.22. Target Co. has a one year low of $137.16 and a one year high of $254.87. The company has a 50-day simple moving average of $166.27 and a two-hundred day simple moving average of $160.73. The firm has a market capitalization of $73.36 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05.

Target (NYSE:TGT – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The retailer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.40 by $0.49. Target had a net margin of 2.55% and a return on equity of 25.63%. The business had revenue of $31.40 billion during the quarter, compared to analyst estimates of $30.73 billion. During the same period last year, the business posted $3.19 earnings per share. Target’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts anticipate that Target Co. will post 8.35 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 17th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Tuesday, May 16th. Target’s dividend payout ratio is 72.24%.

About Target

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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