Target Co. (NYSE:TGT) Insider Richard H. Gomez Sells 6,348 Shares

Target Co. (NYSE:TGT) insider Richard H. Gomez sold 6,348 shares of the stock in a transaction 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 transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Target Stock Performance

Shares of TGT opened at $155.86 on Tuesday. Target Co. has a 52 week low of $102.93 and a 52 week 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 stock has a market cap of $72.11 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.00 and a beta of 1.24. The business has a 50-day simple moving average of $148.85 and a two-hundred day simple moving average of $154.33.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.80 EPS. On average, analysts expect that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Institutional Investors Weigh In On Target

Institutional investors and hedge funds have recently bought and sold shares of the business. Triad Wealth Partners LLC purchased a new stake in shares of Target during the second quarter worth about $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Target during the 4th quarter valued at approximately $28,000. Slocum Gordon & Co LLP bought a new stake in shares of Target during the second quarter valued at approximately $28,000. Scarborough Advisors LLC purchased a new position in shares of Target in the fourth quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Target in the second quarter worth $31,000. 79.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TGT shares. Wells Fargo & Company lifted their price target on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. Jefferies Financial Group raised their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Royal Bank of Canada boosted their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Piper Sandler initiated coverage on Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $179.69.

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.